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.
Analysts Set New Price Targets
Separately, DA Davidson cut their price target on shares of 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 analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Shyft Group presently has an average rating of Moderate Buy and a consensus target price of $14.00.
View Our Latest Analysis on The Shyft Group
The Shyft Group Stock Up 5.3 %
The Shyft Group (NASDAQ:SHYF – Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.03. The company had revenue of $202.33 million during the quarter, compared to analyst estimates of $205.40 million. The Shyft Group had a net margin of 0.74% and a return on equity of 4.91%. As a group, analysts forecast that The Shyft Group will post 0.28 earnings per share for the current fiscal year.
The Shyft Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Friday, February 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.77%. The ex-dividend date was Thursday, February 15th. The Shyft Group’s dividend payout ratio is currently 111.12%.
Insiders Place Their Bets
In related news, CEO John Albert Dunn acquired 4,545 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $11.00 per share, with a total value of $49,995.00. Following the acquisition, the chief executive officer now directly owns 35,894 shares in the company, valued at $394,834. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.54% of the stock is owned by company 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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