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

The Shyft Group (NASDAQ:SHYF) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.35-0.50 for the period, compared to the consensus 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 Stock Performance

NASDAQ SHYF opened at $11.74 on Thursday. The Shyft Group has a one year low of $9.81 and a one year high of $17.56. 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 stock’s 50-day moving average is $12.74 and its 200-day moving average is $12.43.

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

The Shyft Group Dividend Announcement

The business 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 was Friday, August 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.70%. The Shyft Group’s payout ratio is -250.00%.

Wall Street Analysts Forecast Growth

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

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.