The Shyft Group (NASDAQ:SHYF) Releases FY 2024 Earnings Guidance

The Shyft Group (NASDAQ:SHYF) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.350-0.500 for the period, compared to the consensus earnings per share 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.

The Shyft Group Stock Performance

NASDAQ:SHYF traded up $0.62 during trading on Friday, reaching $12.25. The company’s stock had a trading volume of 233,663 shares, compared to its average volume of 308,139. The Shyft Group has a 12 month low of $9.81 and a 12 month high of $17.56. The firm has a market cap of $421.08 million, a price-to-earnings ratio of -1,225.00 and a beta of 1.65. The firm has a 50 day moving average of $12.69 and a 200-day moving average of $12.43. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.19 and a current ratio of 1.86.

The Shyft Group (NASDAQ:SHYF) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.09. The company had revenue of $192.80 million during the quarter, compared to analyst estimates of $201.49 million. The Shyft Group had a negative net margin of 0.30% and a positive return on equity of 1.22%. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. Research analysts expect that The Shyft Group will post 0.29 EPS for the current fiscal year.

The Shyft Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Friday, August 16th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Friday, August 16th. The Shyft Group’s dividend payout ratio is currently -2,000.00%.

Analyst Upgrades and Downgrades

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

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.