REV Group (NYSE:REVG) Posts Earnings Results, Beats Expectations By $0.10 EPS

REV Group (NYSE:REVG) announced its quarterly earnings data on Wednesday. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10, MarketWatch Earnings reports. The business had revenue of $680.00 million for the quarter, compared to analyst estimates of $627.17 million. REV Group had a net margin of 0.95% and a return on equity of 12.12%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. REV Group updated its FY 2023 guidance to EPS.

REV Group Trading Up 6.1 %

REVG stock opened at $14.84 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.50 and a current ratio of 1.73. The company’s 50-day simple moving average is $13.33 and its 200 day simple moving average is $12.21. REV Group has a 52 week low of $9.85 and a 52 week high of $16.38. The company has a market capitalization of $882.83 million, a PE ratio of 36.20 and a beta of 1.98.

REV Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.20 annualized dividend and a dividend yield of 1.35%. REV Group’s dividend payout ratio (DPR) is presently 48.78%.

Hedge Funds Weigh In On REV Group

Several institutional investors and hedge funds have recently modified their holdings of REVG. Swiss National Bank grew its stake in shares of REV Group by 7.0% in the first quarter. Swiss National Bank now owns 68,900 shares of the company’s stock valued at $923,000 after acquiring an additional 4,500 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of REV Group by 7.4% in the first quarter. Bank of New York Mellon Corp now owns 258,422 shares of the company’s stock valued at $3,463,000 after acquiring an additional 17,750 shares in the last quarter. American Century Companies Inc. grew its stake in shares of REV Group by 38.6% in the first quarter. American Century Companies Inc. now owns 112,712 shares of the company’s stock valued at $1,510,000 after acquiring an additional 31,403 shares in the last quarter. Bank of Montreal Can grew its stake in shares of REV Group by 7.9% in the first quarter. Bank of Montreal Can now owns 34,948 shares of the company’s stock valued at $483,000 after acquiring an additional 2,566 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of REV Group by 55.4% in the first quarter. MetLife Investment Management LLC now owns 15,792 shares of the company’s stock valued at $212,000 after acquiring an additional 5,631 shares in the last quarter. 94.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on REVG. StockNews.com lowered shares of REV Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Credit Suisse Group boosted their price objective on shares of REV Group from $12.00 to $13.00 in a research report on Wednesday. BMO Capital Markets boosted their price objective on shares of REV Group from $14.00 to $15.00 in a research report on Wednesday, June 14th. The Goldman Sachs Group boosted their price objective on shares of REV Group from $13.00 to $14.00 in a research report on Wednesday. Finally, Robert W. Baird upped their price target on shares of REV Group from $16.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.17.

REV Group Company Profile

REV Group, Inc designs, manufactures, and distributes specialty vehicles, and related aftermarket parts and services in the United States, Europe, 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.