The Shyft Group, Inc. (NASDAQ:SHYF) Declares Quarterly Dividend of $0.05

The Shyft Group, Inc. (NASDAQ:SHYF) declared a quarterly dividend on Tuesday, May 13th, RTT News reports. Investors of record on Friday, May 16th will be paid a dividend of 0.05 per share on Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, May 16th.

The Shyft Group has raised its dividend by an average of 26.0% annually over the last three years. The Shyft Group has a payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect The Shyft Group to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 21.1%.

The Shyft Group Trading Up 2.8%

Shares of The Shyft Group stock opened at $10.12 on Wednesday. The company has a market capitalization of $354.26 million, a P/E ratio of -112.43 and a beta of 1.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.82. The company has a fifty day moving average of $8.57 and a 200 day moving average of $11.02. The Shyft Group has a fifty-two week low of $6.82 and a fifty-two week high of $17.56.

The Shyft Group (NASDAQ:SHYF) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.09). The Shyft Group had a negative net margin of 0.36% and a positive return on equity of 2.75%. The firm had revenue of $201.43 million for the quarter, compared to the consensus estimate of $211.90 million. On average, sell-side analysts anticipate that The Shyft Group will post 0.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, DA Davidson upgraded The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Wednesday, January 15th.

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.