REV Group (NYSE:REVG) Announces Earnings Results

REV Group (NYSE:REVGGet Rating) released its quarterly earnings results on Tuesday. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06), MarketWatch Earnings reports. REV Group had a net margin of 0.90% and a return on equity of 10.80%. The firm had revenue of $576.30 million for the quarter, compared to analysts’ expectations of $600.06 million. During the same period in the previous year, the company posted $0.37 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. REV Group updated its FY 2022 guidance to EPS.

REVG opened at $11.59 on Thursday. REV Group has a 12-month low of $9.50 and a 12-month high of $20.24. The company has a current ratio of 1.68, a quick ratio of 0.60 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $729.47 million, a PE ratio of 37.39 and a beta of 2.17. The firm has a 50 day moving average of $12.24 and a two-hundred day moving average of $13.50.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.20 dividend on an annualized basis and a yield of 1.73%. REV Group’s dividend payout ratio is currently 64.52%.

Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its holdings in shares of REV Group by 4.5% in the 1st quarter. California State Teachers Retirement System now owns 42,292 shares of the company’s stock valued at $567,000 after buying an additional 1,817 shares during the period. Goldman Sachs Group Inc. lifted its holdings in REV Group by 36.8% in the first quarter. Goldman Sachs Group Inc. now owns 57,206 shares of the company’s stock valued at $767,000 after acquiring an additional 15,401 shares during the period. State Street Corp boosted its position in REV Group by 32.8% in the 1st quarter. State Street Corp now owns 791,875 shares of the company’s stock worth $10,645,000 after purchasing an additional 195,632 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of REV Group during the 1st quarter valued at approximately $145,000. Finally, Invesco Ltd. lifted its stake in shares of REV Group by 1.3% in the 1st quarter. Invesco Ltd. now owns 917,940 shares of the company’s stock valued at $12,300,000 after purchasing an additional 11,697 shares during the period. 95.18% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently commented on REVG. cut shares of REV Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group lowered their price objective on REV Group from $12.00 to $11.00 and set an “underperform” rating for the company in a research report on Friday, March 11th. Zacks Investment Research cut REV Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 26th. BMO Capital Markets dropped their price target on REV Group from $15.00 to $13.00 in a research note on Thursday. Finally, TheStreet cut shares of REV Group from a “b-” rating to a “c+” rating in a research note on Thursday, March 24th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, REV Group currently has a consensus rating of “Hold” and a consensus target price of $13.21.

REV Group Company Profile (Get Rating)

REV Group, Inc designs, manufactures, and distributes specialty vehicles, and related aftermarket parts and services in the United States, Canada, Europe, Africa, 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, and Ladder Tower brands; and ambulances under the American Emergency Vehicles, Horton Emergency Vehicles, Leader Emergency Vehicles, Road Rescue, and Wheeled Coach brands.

Further Reading

Earnings History for REV Group (NYSE:REVG)

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