The Shyft Group (NASDAQ:SHYF) Issues FY 2024 Earnings Guidance

The Shyft Group (NASDAQ:SHYF) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.350-0.500 for the period, compared to the consensus earnings per share estimate of 0.430. The company issued revenue guidance of $800.0 million-$800.0 million, compared to the consensus revenue estimate of $811.7 million. The Shyft Group also updated its FY24 guidance to $0.35-0.50 EPS.

The Shyft Group Stock Performance

Shares of The Shyft Group stock opened at $11.74 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.86 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average price is $12.74 and its 200-day moving average price is $12.43. The Shyft Group has a 52-week low of $9.81 and a 52-week high of $17.56.

The Shyft Group (NASDAQ:SHYF) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.09. The Shyft Group had a negative net margin of 0.30% and a positive return on equity of 1.22%. The business had revenue of $192.80 million for the quarter, compared to analyst estimates of $201.49 million. During the same period in the previous year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was down 14.3% on a year-over-year basis. As a group, sell-side analysts predict that The Shyft Group will post 0.29 EPS for the current year.

The Shyft Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Friday, August 16th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, August 16th. This represents a $0.20 annualized dividend and a yield of 1.70%. The Shyft Group’s dividend payout ratio (DPR) is -250.00%.

Analyst Ratings Changes

Separately, DA Davidson raised The Shyft Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $12.00 to $18.00 in a report on Monday, July 29th.

About The Shyft Group

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.