The Shyft Group (NASDAQ:SHYF - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.35-0.50 for the period, compared to the consensus estimate of $0.41. The company issued revenue guidance of $800 million, compared to the consensus revenue estimate of $811.69 million. The Shyft Group also updated its FY 2024 guidance to 0.350-0.500 EPS.
Wall Street Analyst Weigh In
Separately, DA Davidson upgraded The Shyft Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $12.00 to $18.00 in a research note on Monday, July 29th.
Read Our Latest Analysis on SHYF
The Shyft Group Stock Down 0.9 %
Shares of SHYF traded down $0.11 during trading hours on Thursday, hitting $11.63. 327,534 shares of the company were exchanged, compared to its average volume of 308,501. The company has a market cap of $400.77 million, a PE ratio of -145.75 and a beta of 1.65. The firm's 50 day moving average is $12.74 and its 200-day moving average is $12.43. The Shyft Group has a 52 week low of $9.81 and a 52 week high of $17.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.19 and a current ratio of 1.86.
The Shyft Group (NASDAQ:SHYF - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $192.80 million during the quarter, compared to analysts' expectations of $201.49 million. During the same quarter in the previous year, the firm earned $0.22 EPS. The firm's revenue was down 14.3% compared to the same quarter last year. On average, equities research analysts forecast 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. Investors of record on Friday, August 16th were given a dividend of $0.05 per share. The ex-dividend date was Friday, August 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.72%. The Shyft Group's dividend payout ratio is presently -250.00%.
About The Shyft Group
(
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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.
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