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

The Shyft Group (NASDAQ:SHYF) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.350-0.500 for the period, compared to the consensus 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 price objective for the company from $12.00 to $18.00 in a research note on Monday, July 29th.

The Shyft Group Trading Up 5.3 %

The Shyft Group stock traded up $0.62 during midday trading on Friday, reaching $12.25. The stock had a trading volume of 224,089 shares, compared to its average volume of 308,093. The firm’s fifty day simple moving average is $12.71 and its two-hundred day simple moving average is $12.43. The Shyft Group has a twelve month low of $9.81 and a twelve month 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 firm has a market cap of $421.08 million, a price-to-earnings ratio of -1,230.00 and a beta of 1.65.

The Shyft Group (NASDAQ:SHYF) last issued its earnings results on Thursday, July 25th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The company had revenue of $192.80 million during the quarter, compared to analyst estimates of $201.49 million. The Shyft Group had a negative net margin of 0.30% and a positive return on equity of 1.22%. The company’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. Equities analysts anticipate that The Shyft Group will post 0.29 EPS for the current fiscal year.

The Shyft Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Friday, August 16th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, August 16th. The Shyft Group’s dividend payout ratio (DPR) is currently -2,000.00%.

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.