The Shyft Group (NASDAQ:SHYF – Get Free Report) updated its FY 2024 earnings guidance on Thursday. 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.
Wall Street Analysts Forecast Growth
Separately, DA Davidson reduced their price objective on 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 research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Shyft Group has a consensus rating of Moderate Buy and an average target price of $14.00.
Check Out Our Latest Stock Analysis on SHYF
The Shyft Group Trading Up 5.3 %
The Shyft Group (NASDAQ:SHYF – Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The business had revenue of $202.33 million during the quarter, compared to the consensus estimate of $205.40 million. The Shyft Group had a return on equity of 4.91% and a net margin of 0.74%. On average, analysts predict that The Shyft Group will post 0.28 earnings per share for the current fiscal year.
The Shyft Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders 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 yield of 1.77%. The Shyft Group’s dividend payout ratio (DPR) is presently 111.12%.
Insider Activity at The Shyft Group
In other The Shyft Group news, CEO John Albert Dunn acquired 4,545 shares of the business’s stock in a transaction on Monday, February 26th. The shares were acquired at an average price of $11.00 per share, with a total value of $49,995.00. Following the completion of the transaction, the chief executive officer now owns 35,894 shares in the company, valued at $394,834. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.54% of the stock is owned by insiders.
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.
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