Zacks: Analysts Expect Rev Group Inc (NASDAQ:REVG) Will Post Quarterly Sales of $623.96 Million
Wall Street analysts expect Rev Group Inc (NASDAQ:REVG) to report sales of $623.96 million for the current quarter, Zacks reports. Four analysts have made estimates for Rev Group’s earnings. The lowest sales estimate is $592.40 million and the highest is $643.30 million. The firm is expected to issue its next quarterly earnings results on Tuesday, September 5th.
According to Zacks, analysts expect that Rev Group will report full-year sales of $623.96 million for the current fiscal year, with estimates ranging from $2.25 billion to $2.33 billion. For the next year, analysts expect that the business will report sales of $2.52 billion per share, with estimates ranging from $2.44 billion to $2.64 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Rev Group.
Rev Group (NASDAQ:REVG) last issued its earnings results on Tuesday, June 6th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The business had revenue of $545.32 million for the quarter, compared to the consensus estimate of $570.27 million. Rev Group had a net margin of 1.25% and a return on equity of 6.72%.
REVG has been the subject of several research reports. Zacks Investment Research upgraded shares of Rev Group from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. BMO Capital Markets initiated coverage on shares of Rev Group in a research report on Wednesday, March 15th. They set an “outperform” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Rev Group currently has a consensus rating of “Buy” and an average target price of $32.38.
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A number of institutional investors have recently made changes to their positions in REVG. Schroder Investment Management Group bought a new position in shares of Rev Group during the first quarter valued at approximately $10,310,000. Wells Fargo & Company MN bought a new stake in shares of Rev Group during the first quarter valued at about $17,811,000. Eagle Asset Management Inc. bought a new stake in shares of Rev Group during the first quarter valued at about $1,250,000. OppenheimerFunds Inc. bought a new stake in shares of Rev Group during the first quarter valued at about $4,071,000. Finally, CIBC World Markets Inc. bought a new stake in shares of Rev Group during the first quarter valued at about $673,000.
Shares of Rev Group (NASDAQ:REVG) opened at 27.87 on Friday. Rev Group has a 12-month low of $24.50 and a 12-month high of $31.60. The stock’s market cap is $1.78 billion. The company’s 50-day moving average is $27.80 and its 200-day moving average is $27.56.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, July 31st will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, July 27th. This represents a $0.20 annualized dividend and a yield of 0.72%.
About Rev Group
REV Group, Inc is a designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. The Company operates through three segments: Fire & Emergency, Commercial and Recreation. The Company provides customized vehicle solutions for applications, including essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (RVs) and luxury buses).
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