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

The Shyft Group (NASDAQ:SHYF) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.350-0.500 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

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

The Shyft Group Stock Performance

Shares of SHYF stock traded down $0.11 during trading hours on Thursday, reaching $11.63. 327,534 shares of the company’s stock were exchanged, compared to its average volume of 308,501. The Shyft Group has a 1 year low of $9.81 and a 1 year high of $17.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.86 and a quick ratio of 1.19. The company’s 50 day moving average is $12.74 and its two-hundred day moving average is $12.43. The company has a market cap of $400.77 million, a P/E ratio of -145.75 and a beta of 1.65.

The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.16 EPS for the quarter, beating 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 firm had revenue of $192.80 million during the quarter, compared to analysts’ expectations of $201.49 million. During the same quarter last year, the business earned $0.22 earnings per share. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Friday, August 16th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.20 annualized dividend and a yield of 1.72%. The Shyft Group’s dividend payout ratio is presently -250.00%.

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.