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

The Shyft Group (NASDAQ:SHYF) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.35-0.50 for the period, compared to the consensus earnings per share estimate of $0.41. The company issued revenue guidance of $800 million, compared to the consensus revenue estimate of $811.69 million. The Shyft Group also updated its FY 2024 guidance to 0.350-0.500 EPS.

The Shyft Group Trading Up 5.3 %

The Shyft Group stock opened at $12.25 on Friday. The Shyft Group has a one year low of $9.81 and a one year high of $17.56. The stock has a market cap of $421.08 million, a PE ratio of -1,225.00 and a beta of 1.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.19 and a current ratio of 1.86. The stock has a 50-day moving average of $12.69 and a two-hundred day moving average of $12.43.

The Shyft Group (NASDAQ:SHYF) last released its earnings results on Thursday, July 25th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $192.80 million during the quarter, compared to analysts’ expectations of $201.49 million. During the same period last year, the business earned $0.22 EPS. The Shyft Group’s revenue for the quarter was down 14.3% on a year-over-year basis. On average, research analysts anticipate that The Shyft Group will post 0.29 EPS for the current fiscal year.

The Shyft Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Friday, August 16th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Friday, August 16th. The Shyft Group’s payout ratio is -2,000.00%.

Wall Street Analyst Weigh In

Separately, DA Davidson raised The Shyft Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $12.00 to $18.00 in a research 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.