The Shyft Group (NASDAQ:SHYF) Issues FY24 Earnings Guidance

The Shyft Group (NASDAQ:SHYF) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $0.28-0.51 for the period, compared to the consensus EPS estimate of $0.39. The company issued revenue guidance of $850-900 million, compared to the consensus revenue estimate of $864.01 million.

The Shyft Group Price Performance

The Shyft Group stock opened at $10.74 on Thursday. The business’s 50-day simple moving average is $11.23 and its 200 day simple moving average is $11.56. The stock has a market cap of $368.70 million, a price-to-earnings ratio of 59.67 and a beta of 1.67. The Shyft Group has a 12-month low of $9.81 and a 12-month high of $27.36. The company has a quick ratio of 0.99, a current ratio of 1.57 and a debt-to-equity ratio of 0.20.

The Shyft Group (NASDAQ:SHYF) last issued its earnings results on Thursday, February 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The Shyft Group had a return on equity of 4.91% and a net margin of 0.74%. The firm had revenue of $202.33 million for the quarter, compared to analysts’ expectations of $205.40 million. As a group, research analysts anticipate that The Shyft Group will post 0.28 earnings per share for the current year.

The Shyft Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Friday, February 16th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, February 15th. The Shyft Group’s dividend payout ratio (DPR) is currently 111.12%.

Wall Street Analyst Weigh In

Separately, DA Davidson cut their price objective on The Shyft Group from $13.00 to $12.00 and set a neutral rating on the stock in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $14.00.

Insider Activity at The Shyft Group

In other news, CEO John Albert Dunn bought 4,545 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $11.00 per share, with a total value of $49,995.00. Following the transaction, the chief executive officer now owns 35,894 shares in the company, valued at $394,834. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.54% of the stock is owned by insiders.

The Shyft Group Company Profile

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.