The Shyft Group (SHYF) to Release Quarterly Earnings on Thursday

The Shyft Group (NASDAQ:SHYFGet Rating) is scheduled to announce its earnings results before the market opens on Thursday, April 28th. Analysts expect the company to announce earnings of ($0.13) per share for the quarter. The Shyft Group has set its FY 2022 guidance at $1.570-$1.990 EPS and its FY22 guidance at $1.57-$1.99 EPS.Investors interested in participating in the company’s conference call can do so using this link.

The Shyft Group (NASDAQ:SHYFGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.47 by $0.09. The Shyft Group had a return on equity of 28.57% and a net margin of 6.95%. The firm had revenue of $277.30 million during the quarter, compared to analysts’ expectations of $232.48 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The business’s quarterly revenue was up 61.6% compared to the same quarter last year. On average, analysts expect The Shyft Group to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of NASDAQ SHYF opened at $30.41 on Thursday. The stock has a 50 day moving average price of $38.08 and a 200 day moving average price of $43.10. The Shyft Group has a 52 week low of $28.81 and a 52 week high of $54.50. The stock has a market capitalization of $1.07 billion, a PE ratio of 16.01 and a beta of 1.58.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 17th. Shareholders of record on Thursday, February 17th were paid a $0.05 dividend. This is a positive change from The Shyft Group’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, February 16th. This represents a $0.20 annualized dividend and a yield of 0.66%. The Shyft Group’s dividend payout ratio is currently 10.53%.

In other news, Director Thomas R. Clevinger sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $39.27, for a total transaction of $196,350.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.88% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG increased its stake in shares of The Shyft Group by 120.8% during the fourth quarter. Deutsche Bank AG now owns 51,256 shares of the company’s stock worth $2,519,000 after purchasing an additional 28,047 shares during the period. California State Teachers Retirement System increased its stake in The Shyft Group by 2.7% during the 4th quarter. California State Teachers Retirement System now owns 45,972 shares of the company’s stock worth $2,259,000 after acquiring an additional 1,221 shares during the period. Goldman Sachs Group Inc. increased its stake in The Shyft Group by 9.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 35,050 shares of the company’s stock worth $1,722,000 after acquiring an additional 3,163 shares during the period. Millennium Management LLC bought a new position in The Shyft Group during the 2nd quarter worth $580,000. Finally, Royal Bank of Canada increased its stake in The Shyft Group by 13.1% during the 3rd quarter. Royal Bank of Canada now owns 13,721 shares of the company’s stock worth $521,000 after acquiring an additional 1,591 shares during the period. Institutional investors own 82.16% of the company’s stock.

Several research firms have issued reports on SHYF. Zacks Investment Research lowered The Shyft Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 3rd. Raymond James upgraded The Shyft Group from an “outperform” rating to a “strong-buy” rating and set a $57.00 price objective on the stock in a research note on Friday, February 25th. Finally, DA Davidson lowered The Shyft Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 6th.

The Shyft Group Company Profile (Get Rating)

The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle 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 manufactures and sells 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.

See Also

Earnings History for The Shyft Group (NASDAQ:SHYF)

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