The Shyft Group (SHYF) Set to Announce Earnings on Thursday

The Shyft Group (NASDAQ:SHYF) will be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of ($0.18) per share for the quarter. The Shyft Group has set its FY 2024 guidance at 0.280-0.510 EPS and its FY24 guidance at $0.28-0.51 EPS.Parties interested in participating in the company’s conference call can do so using this link.

The Shyft Group (NASDAQ:SHYF) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.03. The company had revenue of $202.33 million for the quarter, compared to the consensus estimate of $205.40 million. The Shyft Group had a net margin of 0.74% and a return on equity of 4.91%. On average, analysts expect The Shyft Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

The Shyft Group Stock Performance

Shares of NASDAQ:SHYF opened at $10.41 on Thursday. The company has a market capitalization of $357.38 million, a price-to-earnings ratio of 57.84 and a beta of 1.67. The Shyft Group has a 12 month low of $9.81 and a 12 month high of $27.36. The firm’s 50-day moving average is $11.25 and its 200 day moving average is $11.70. The company has a current ratio of 1.57, a quick ratio of 0.99 and a debt-to-equity ratio of 0.20.

The Shyft Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Friday, February 16th were paid a $0.05 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.92%. The Shyft Group’s dividend payout ratio is currently 111.12%.

Insider Activity

In other news, CEO John Albert Dunn bought 4,545 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average price of $11.00 per share, with a total value of $49,995.00. Following the completion of the transaction, the chief executive officer now directly owns 35,894 shares of the company’s stock, valued at approximately $394,834. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.54% of the company’s stock.

Institutional Investors Weigh In On The Shyft Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SHYF. BlackRock Inc. raised its holdings in shares of The Shyft Group by 5.3% in the second quarter. BlackRock Inc. now owns 2,485,952 shares of the company’s stock worth $54,840,000 after buying an additional 125,952 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of The Shyft Group by 20.9% in the fourth quarter. Alliancebernstein L.P. now owns 2,062,338 shares of the company’s stock worth $51,270,000 after buying an additional 356,411 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of The Shyft Group by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 1,774,901 shares of the company’s stock worth $21,689,000 after buying an additional 35,825 shares during the last quarter. Zuckerman Investment Group LLC raised its holdings in shares of The Shyft Group by 1.9% during the fourth quarter. Zuckerman Investment Group LLC now owns 1,039,914 shares of the company’s stock worth $25,852,000 after purchasing an additional 19,877 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of The Shyft Group by 0.6% during the second quarter. State Street Corp now owns 702,129 shares of the company’s stock worth $15,489,000 after purchasing an additional 4,083 shares during the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson dropped their price objective 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 research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.00.

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.