The Shyft Group (NASDAQ:SHYF) Issues 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.

Analysts Set New Price Targets

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

The Shyft Group Stock Performance

SHYF traded down $0.11 on Thursday, reaching $11.63. The company had a trading volume of 327,534 shares, compared to its average volume of 308,501. The stock has a 50-day moving average price of $12.74 and a 200-day moving average price of $12.43. The stock has a market capitalization of $400.77 million, a PE ratio of -145.75 and a beta of 1.65. The Shyft Group has a 1 year low of $9.81 and a 1 year high of $17.56. 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 (NASDAQ:SHYF) last announced its earnings results on Thursday, July 25th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The firm had revenue of $192.80 million during the quarter, compared to analysts’ expectations of $201.49 million. The Shyft Group had a positive return on equity of 1.22% and a negative net margin of 0.30%. The business’s revenue was down 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. As a group, research analysts forecast that The Shyft Group will post 0.29 EPS for the current fiscal year.

The Shyft Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Friday, August 16th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Friday, August 16th. The Shyft Group’s payout ratio is currently -250.00%.

About The Shyft Group

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.