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

The Shyft Group (NASDAQ:SHYF) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.350-0.500 for the period, compared to the consensus EPS estimate of 0.430. The company issued revenue guidance of $800.0 million-$800.0 million, compared to the consensus revenue estimate of $811.7 million. The Shyft Group also updated its FY24 guidance to $0.35-0.50 EPS.

The Shyft Group Stock Up 5.3 %

NASDAQ:SHYF traded up $0.62 on Friday, hitting $12.25. The stock had a trading volume of 233,663 shares, compared to its average volume of 308,139. The company has a quick ratio of 1.19, a current ratio of 1.86 and a debt-to-equity ratio of 0.26. The Shyft Group has a 52 week low of $9.81 and a 52 week high of $17.56. The business’s fifty day moving average is $12.69 and its 200 day moving average is $12.43. The company has a market cap of $421.08 million, a PE ratio of -1,225.00 and a beta of 1.65.

The Shyft Group (NASDAQ:SHYF) last issued its earnings results on Thursday, July 25th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The Shyft Group had a positive return on equity of 1.22% and a negative net margin of 0.30%. The company had revenue of $192.80 million for the quarter, compared to analysts’ expectations of $201.49 million. During the same period last year, the business earned $0.22 EPS. The Shyft Group’s quarterly revenue was down 14.3% compared to the same quarter last year. On average, equities research analysts expect that The Shyft Group will post 0.29 EPS for the current fiscal year.

The Shyft Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Friday, August 16th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, August 16th. The Shyft Group’s dividend payout ratio is currently -2,000.00%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $12.00 to $18.00 in a report on Monday, July 29th.

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.