The Shyft Group (NASDAQ:SHYF - Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $0.35-0.50 for the period, compared to the consensus earnings per share estimate of $0.41. The company issued revenue guidance of $800 million, compared to the consensus revenue estimate of $811.69 million. The Shyft Group also updated its FY 2024 guidance to 0.350-0.500 EPS.
SHYF opened at $11.74 on Thursday. The firm has a 50 day simple moving average of $12.74 and a 200 day simple moving average of $12.43. The Shyft Group has a fifty-two week low of $9.81 and a fifty-two week high of $17.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.86 and a quick ratio of 1.19.
The Shyft Group (NASDAQ:SHYF - Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $0.16 EPS 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 analysts' expectations 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 business's revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. Equities research analysts anticipate that The Shyft Group will post 0.29 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Friday, August 16th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.70%. The Shyft Group's dividend payout ratio is presently -250.00%.
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 report on Monday, July 29th.
View Our Latest Stock Analysis on 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.
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