The Shyft Group, Inc. (NASDAQ:SHYF – Get Free Report) declared a quarterly dividend on Friday, August 2nd, Zacks reports. Stockholders of record on Friday, August 16th will be paid a dividend of 0.05 per share on Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, August 16th.
The Shyft Group has increased its dividend by an average of 26.0% annually over the last three years. The Shyft Group has a dividend payout ratio of 23.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect The Shyft Group to earn $0.85 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 23.5%.
The Shyft Group Trading Down 3.9 %
Shares of NASDAQ SHYF traded down $0.60 during midday trading on Friday, reaching $14.68. The company’s stock had a trading volume of 371,214 shares, compared to its average volume of 527,774. The Shyft Group has a 12-month low of $9.81 and a 12-month high of $17.56. The firm has a 50 day moving average price of $12.35 and a 200-day moving average price of $11.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.86 and a quick ratio of 1.19.
Wall Street Analysts Forecast Growth
Separately, DA Davidson upgraded The Shyft Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $18.00 in a research note on Monday, July 29th.
Check Out Our Latest Stock Report on The Shyft Group
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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