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 0.280-0.510 for the period, compared to the consensus EPS 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 Stock Performance

Shares of SHYF stock traded up $0.03 on Friday, hitting $11.26. The company’s stock 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 quick ratio of 0.99 and a current ratio of 1.57. The stock’s 50 day moving average is $11.21 and its 200-day moving average is $11.53. The Shyft Group has a fifty-two week low of $9.81 and a fifty-two week high of $27.36. The company has a market capitalization of $386.56 million, a PE ratio of -1,126.00 and a beta of 1.67.

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

The Shyft Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Friday, February 16th were paid a $0.05 dividend. The ex-dividend date of this dividend 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 payout ratio is currently -2,000.00%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reduced their price target on shares of The Shyft Group from $13.00 to $12.00 and set a neutral rating on the stock in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Shyft Group presently has an average rating of Moderate Buy and a consensus price target of $14.00.

Insiders Place Their Bets

In other news, CEO John Albert Dunn purchased 4,545 shares of the stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $11.00 per share, for a total transaction of $49,995.00. Following the acquisition, the chief executive officer now owns 35,894 shares in the company, valued at $394,834. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.54% of the company’s stock.

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.