REV Group, Inc. Announces Quarterly Dividend of $0.06 (NYSE:REVG)

REV Group, Inc. (NYSE:REVG - Get Free Report) declared a quarterly dividend on Thursday, June 5th, Wall Street Journal reports. Shareholders of record on Friday, June 27th will be paid a dividend of 0.06 per share on Friday, July 11th. This represents a $0.24 annualized dividend and a yield of 0.53%. The ex-dividend date is Friday, June 27th.

REV Group has raised its dividend payment by an average of 11.9% annually over the last three years and has increased its dividend every year for the last 1 years. REV Group has a dividend payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect REV Group to earn $2.86 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 8.4%.

REV Group Price Performance

REVG traded up $2.07 during trading on Friday, reaching $44.99. 758,842 shares of the stock were exchanged, compared to its average volume of 694,729. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 10.01 and a beta of 1.12. REV Group has a 1 year low of $21.54 and a 1 year high of $45.53. The business's 50 day moving average price is $34.28 and its two-hundred day moving average price is $32.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.72 and a quick ratio of 0.43.

REV Group (NYSE:REVG - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.13. REV Group had a net margin of 10.82% and a return on equity of 17.74%. The company had revenue of $629.10 million for the quarter, compared to the consensus estimate of $603.51 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that REV Group will post 2.12 earnings per share for the current year.

Hedge Funds Weigh In On REV Group

An institutional investor recently raised its position in REV Group stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of REV Group, Inc. (NYSE:REVG - Free Report) by 5.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,726 shares of the company's stock after purchasing an additional 1,520 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of REV Group worth $971,000 at the end of the most recent quarter.

Wall Street Analyst Weigh In

Several research analysts have weighed in on REVG shares. The Goldman Sachs Group boosted their price target on REV Group from $26.00 to $30.00 and gave the company a "sell" rating in a report on Tuesday, May 27th. DA Davidson upped their price target on shares of REV Group from $39.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday. Morgan Stanley lowered shares of REV Group from an "equal weight" rating to an "underweight" rating and set a $33.00 price target on the stock. in a report on Wednesday, April 16th. Finally, Wall Street Zen upgraded REV Group from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat, REV Group currently has an average rating of "Hold" and an average target price of $38.00.

REV Group Company Profile

REV Group, Inc, together with its subsidiaries, designs, manufactures, and distributes specialty vehicles, and related aftermarket parts and services in the United States, Canada, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment provides fire apparatus equipment under the Emergency One, Kovatch Mobile Equipment, Ferrara, Spartan Emergency Response, Smeal, Spartan Fire Chassis, and Ladder Tower brand names; and ambulances under the American Emergency Vehicles, Horton Emergency Vehicles, Leader Emergency Vehicles, Road Rescue, and Wheeled Coach brand names.