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

The Shyft Group (NASDAQ:SHYF) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.280-0.510 for the period, compared to the consensus 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.

The Shyft Group Trading Up 0.3 %

NASDAQ SHYF traded up $0.03 during midday trading on Friday, hitting $11.26. The company had a trading volume of 383,774 shares, compared to its average volume of 310,600. 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 firm has a 50-day moving average price of $11.21 and a 200-day moving average price of $11.50. The Shyft Group has a twelve month low of $9.81 and a twelve month high of $27.36.

The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.03. The Shyft Group had a return on equity of 2.74% and a net margin of 0.01%. The firm had revenue of $202.33 million during the quarter, compared to analysts’ expectations of $205.40 million. On average, analysts expect that The Shyft Group will post 0.28 EPS for the current fiscal year.

The Shyft Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Friday, February 16th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.78%. The Shyft Group’s dividend payout ratio (DPR) is currently -2,000.00%.

Wall Street Analyst Weigh In

Separately, DA Davidson lowered their price target on The Shyft Group from $13.00 to $12.00 and set a neutral rating for the company in a report on Tuesday, February 27th. Three investment 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 Shyft Group has a consensus rating of Moderate Buy and a consensus target price of $14.00.

Insider Buying and Selling

In other news, CEO John Albert Dunn acquired 4,545 shares of The Shyft Group stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $11.00 per share, for a total transaction of $49,995.00. Following the transaction, the chief executive officer now directly owns 35,894 shares of the company’s stock, valued at approximately $394,834. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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.