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

The Shyft Group (NASDAQ:SHYF) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.350-0.500 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

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

The Shyft Group Trading Up 5.3 %

Shares of SHYF stock traded up $0.62 on Friday, reaching $12.25. 224,089 shares of the stock were exchanged, compared to its average volume of 308,093. The Shyft Group has a 1-year low of $9.81 and a 1-year high of $17.56. The stock has a market cap of $421.08 million, a P/E ratio of -1,230.00 and a beta of 1.65. 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 firm has a 50 day moving average of $12.71 and a two-hundred day moving average of $12.43.

The Shyft Group (NASDAQ:SHYF) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The Shyft Group had a negative net margin of 0.30% and a positive return on equity of 1.22%. The company had revenue of $192.80 million during the quarter, compared to analysts’ expectations of $201.49 million. During the same period in the prior year, the company posted $0.22 EPS. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. On average, research analysts anticipate that The Shyft Group will post 0.29 EPS for the current year.

The Shyft Group Announces Dividend

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

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.