Brokerages forecast that REV Group, Inc. (NYSE:REVG) will report sales of $613.70 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for REV Group's earnings. The lowest sales estimate is $608.20 million and the highest is $619.20 million. REV Group posted sales of $652.90 million during the same quarter last year, which would indicate a negative year over year growth rate of 6%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, December 16th.
On average, analysts expect that REV Group will report full year sales of $2.28 billion for the current fiscal year, with estimates ranging from $2.27 billion to $2.30 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.35 billion, with estimates ranging from $2.26 billion to $2.42 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side analysts that follow REV Group.
REV Group (NYSE:REVG) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.01 by $0.09. The business had revenue of $582.20 million for the quarter, compared to analyst estimates of $551.74 million. REV Group had a negative net margin of 1.28% and a negative return on equity of 0.87%. REV Group's revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 earnings per share.
A number of brokerages have commented on REVG. Credit Suisse Group boosted their price objective on REV Group from $5.00 to $6.00 and gave the stock an "underperform" rating in a report on Thursday, September 10th. Zacks Investment Research upgraded shares of REV Group from a "hold" rating to a "buy" rating and set a $8.75 price objective on the stock in a research report on Wednesday, September 16th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of "Hold" and an average target price of $7.25.
Shares of REV Group stock opened at $8.57 on Monday. The company has a current ratio of 1.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.81. REV Group has a 1-year low of $3.50 and a 1-year high of $14.50. The company has a market cap of $543.99 million, a PE ratio of -18.23 and a beta of 2.92. The company has a 50 day moving average of $7.98 and a 200-day moving average of $6.39.
Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in REV Group by 44.9% in the second quarter. SG Americas Securities LLC now owns 14,887 shares of the company's stock valued at $91,000 after buying an additional 4,616 shares during the last quarter. Wellington Management Group LLP increased its position in REV Group by 11.2% during the 1st quarter. Wellington Management Group LLP now owns 266,702 shares of the company's stock worth $1,112,000 after purchasing an additional 26,907 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in REV Group by 37.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 316,503 shares of the company's stock worth $1,931,000 after acquiring an additional 86,083 shares during the period. Royal Bank of Canada lifted its stake in shares of REV Group by 30.6% in the first quarter. Royal Bank of Canada now owns 29,226 shares of the company's stock valued at $122,000 after purchasing an additional 6,842 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of REV Group by 7.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 91,814 shares of the company's stock valued at $558,000 after acquiring an additional 6,356 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.
REV Group Company Profile
REV Group, Inc designs, manufactures, and distributes specialty vehicles in the United States, Canada, Europe, Africa, the Middle East, Latin America, the Caribbean, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment offers a range of fire apparatus and ambulance products for municipalities and private contractors.
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7 Gold Stocks to Buy Before the Fed Changes Its Mind
Just when investors thought that the price of gold couldn’t go any higher, the Federal Reserve added fuel to the fire. On July 29, the Fed said there was not sufficient evidence of an economic recovery to warrant changing their current policies.
Not only does that mean that interest rates will stay at or nor zero, but that the Fed may initiate other actions as well. In his statement after the Fed meeting, chairman Jerome Powell said the Fed was “not even thinking about thinking about raising rates.”
And while the novel coronavirus was certainly a factor, it’s not the only factor. The Fed is looking intently at the collateral damage from the lockdown measures in March and April. Over 14 million Americans who had jobs in February are unemployed. And many of those jobs will not be coming back.
This is creating the perfect scenario for gold and gold stocks. The price of gold has surged over 25% in 2020. At the time of this writing, it sits at $1,953 per ounce. Of course as soon as gold starts to near $2,000 the cries that the rally is over begin.
Are they right again? Maybe, but I’m a little skeptical. Gold always climbs during times of uncertainty. That’s true today more than ever. We’re months away from a presidential election. We’re learning how to live with a novel virus for which there is no vaccine. We have social unrest that has turned into riots in many major cities.
With that in mind, here are seven of the best gold stocks that you can invest in right now.
View the "7 Gold Stocks to Buy Before the Fed Changes Its Mind".