REV Group, Inc. (NYSE:REVG) Announces Quarterly Dividend of $0.06

REV Group, Inc. (NYSE:REVG) announced a quarterly dividend on Thursday, June 5th, Wall Street Journal reports. Shareholders of record on Friday, June 27th will be paid a dividend of 0.06 per share on Friday, July 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Friday, June 27th.

REV Group has increased its dividend by an average of 11.9% annually over the last three years and has raised its dividend every year for the last 1 years. REV Group has a dividend payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect REV Group to earn $2.86 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 8.4%.

REV Group Stock Performance

Shares of REV Group stock opened at $44.87 on Friday. REV Group has a fifty-two week low of $21.54 and a fifty-two week high of $45.54. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.72 and a quick ratio of 0.43. The firm has a market capitalization of $2.32 billion, a P/E ratio of 9.99 and a beta of 1.12. The company’s 50 day moving average price is $34.53 and its two-hundred day moving average price is $32.98.

REV Group (NYSE:REVG) last issued its earnings results on Wednesday, June 4th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.13. REV Group had a net margin of 10.82% and a return on equity of 17.74%. The firm had revenue of $629.10 million for the quarter, compared to analyst estimates of $603.51 million. During the same quarter last year, the business posted $0.39 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts forecast that REV Group will post 2.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of REV Group from $26.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, May 27th. Morgan Stanley downgraded shares of REV Group from an “equal weight” rating to an “underweight” rating and set a $33.00 price target for the company. in a research note on Wednesday, April 16th. DA Davidson raised their price target on shares of REV Group from $39.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wall Street Zen raised shares of REV Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.00.

Hedge Funds Weigh In On REV Group

A hedge fund recently raised its stake in REV Group stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of REV Group, Inc. (NYSE:REVG) by 5.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 30,726 shares of the company’s stock after acquiring an additional 1,520 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of REV Group worth $971,000 as of its most recent SEC filing.

About REV Group

REV Group, Inc, together with its subsidiaries, designs, manufactures, and distributes specialty vehicles, and related aftermarket parts and services in the United States, Canada, and internationally. It operates through three segments: Fire & Emergency, Commercial, and Recreation. The Fire & Emergency segment provides fire apparatus equipment under the Emergency One, Kovatch Mobile Equipment, Ferrara, Spartan Emergency Response, Smeal, Spartan Fire Chassis, and Ladder Tower brand names; and ambulances under the American Emergency Vehicles, Horton Emergency Vehicles, Leader Emergency Vehicles, Road Rescue, and Wheeled Coach brand names.