Douglas Dynamics (NYSE:PLOW) Releases FY24 Earnings Guidance

Douglas Dynamics (NYSE:PLOW) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.20-1.70 for the period, compared to the consensus earnings per share estimate of $1.43. The company issued revenue guidance of $600-640 million, compared to the consensus revenue estimate of $615.92 million. Douglas Dynamics also updated its FY 2024 guidance to 1.200-1.700 EPS.

Douglas Dynamics Stock Down 3.1 %

Shares of NYSE PLOW traded down $0.96 during midday trading on Wednesday, reaching $29.75. 210,168 shares of the company’s stock were exchanged, compared to its average volume of 238,750. Douglas Dynamics has a 52-week low of $21.31 and a 52-week high of $35.39. The stock has a market capitalization of $686.93 million, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.45 and a beta of 1.17. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.60 and a current ratio of 2.06. The business’s fifty day moving average price is $24.01 and its two-hundred day moving average price is $24.28.

Douglas Dynamics (NYSE:PLOW) last announced its earnings results on Monday, July 29th. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.48. The business had revenue of $199.90 million for the quarter, compared to analyst estimates of $181.30 million. Douglas Dynamics had a return on equity of 13.49% and a net margin of 5.03%. During the same period in the previous year, the company earned $1.00 earnings per share. Analysts forecast that Douglas Dynamics will post 1.3 EPS for the current year.

Douglas Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 17th were paid a $0.295 dividend. The ex-dividend date was Monday, June 17th. This represents a $1.18 dividend on an annualized basis and a yield of 3.97%. Douglas Dynamics’s dividend payout ratio (DPR) is 100.86%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. DA Davidson restated a buy rating and issued a $31.00 target price on shares of Douglas Dynamics in a research note on Tuesday, April 30th. Robert W. Baird reissued a neutral rating and set a $25.00 target price (down previously from $36.00) on shares of Douglas Dynamics in a report on Monday, April 8th.

About Douglas Dynamics

Douglas Dynamics, Inc operates as a manufacturer and upfitter of commercial work truck attachments and equipment in North America. It operates through two segments, Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment manufactures and sells snow and ice control attachments, including snowplows, and sand and salt spreaders for light trucks and heavy duty trucks, as well as various related parts and accessories.