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

The Shyft Group (NASDAQ:SHYF - Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.280-0.510 for the period, compared to the consensus earnings per share estimate of 0.390. The company issued revenue guidance of $850.0 million-$900.0 million, compared to the consensus revenue estimate of $864.0 million. The Shyft Group also updated its FY24 guidance to $0.28-0.51 EPS.

Analysts Set New Price Targets

Separately, DA Davidson cut their price target on shares of The Shyft Group from $13.00 to $12.00 and set a neutral rating on the stock in a report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $14.00.

The Shyft Group Stock Performance

The Shyft Group stock traded up $0.49 during mid-day trading on Thursday, reaching $11.23. 372,202 shares of the stock traded hands, compared to its average volume of 283,993. The Shyft Group has a 12-month low of $9.81 and a 12-month high of $27.36. The business's 50-day moving average is $11.23 and its 200-day moving average is $11.56. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.57 and a quick ratio of 0.99. The stock has a market capitalization of $385.53 million, a PE ratio of 63.06 and a beta of 1.67.

The Shyft Group (NASDAQ:SHYF - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.03. The business had revenue of $202.33 million for the quarter, compared to analysts' expectations of $205.40 million. The Shyft Group had a net margin of 0.74% and a return on equity of 4.91%. As a group, sell-side analysts predict that The Shyft Group will post 0.28 EPS for the current fiscal year.

The Shyft Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Friday, February 16th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Thursday, February 15th. The Shyft Group's dividend payout ratio (DPR) is currently 111.12%.

Insider Activity at The Shyft Group

In other news, CEO John Albert Dunn bought 4,545 shares of the firm's stock in a transaction on Monday, February 26th. The shares were bought at an average price of $11.00 per share, for a total transaction of $49,995.00. Following the purchase, the chief executive officer now owns 35,894 shares in the company, valued at $394,834. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.54% of the stock is currently owned by corporate insiders.

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.