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

The Shyft Group (NASDAQ:SHYF) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.28-0.51 for the period, compared to the consensus estimate of $0.39. The company issued revenue guidance of $850-900 million, compared to the consensus revenue estimate of $864.01 million.

Analyst Ratings Changes

Separately, DA Davidson cut their price target on 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 equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $14.00.

The Shyft Group Stock Down 2.6 %

SHYF stock opened at $10.74 on Thursday. The Shyft Group has a twelve month low of $9.81 and a twelve month high of $27.36. The company has a quick ratio of 0.99, a current ratio of 1.57 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $11.23 and its 200-day moving average is $11.56. The firm has a market capitalization of $368.70 million, a PE ratio of 59.67 and a beta of 1.67.

The Shyft Group (NASDAQ:SHYF) last posted its earnings results on Thursday, February 22nd. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The Shyft Group had a return on equity of 4.91% and a net margin of 0.74%. The company had revenue of $202.33 million for the quarter, compared to analyst estimates of $205.40 million. Sell-side analysts expect that The Shyft Group will post 0.28 EPS for the current fiscal year.

The Shyft Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, February 16th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, February 15th. The Shyft Group’s payout ratio is 111.12%.

Insider Activity at The Shyft Group

In other The Shyft Group news, CEO John Albert Dunn purchased 4,545 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average cost of $11.00 per share, with a total value of $49,995.00. Following the completion of the transaction, the chief executive officer now owns 35,894 shares of the company’s stock, valued at approximately $394,834. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.54% of the stock is currently owned by company 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.