REV Group (NYSE:REVG) Issues Quarterly Earnings Results

REV Group (NYSE:REVG) announced its quarterly earnings data on Wednesday. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10, MarketWatch Earnings reports. The business had revenue of $680.00 million during the quarter, compared to the consensus estimate of $627.17 million. REV Group had a net margin of 0.95% and a return on equity of 12.12%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned $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’s 50-day simple moving average is $13.33 and its 200-day simple moving average is $12.21. The company has a quick ratio of 0.50, a current ratio of 1.73 and a debt-to-equity ratio of 0.51. REV Group has a 52-week low of $9.85 and a 52-week high of $16.38. The firm has a market cap of $882.83 million, a P/E ratio of 36.20 and a beta of 1.98.

REV Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, September 28th. REV Group’s payout ratio is currently 48.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on REVG shares. The Goldman Sachs Group boosted their price objective on shares of REV Group from $13.00 to $14.00 in a research note on Wednesday. DA Davidson boosted their price objective on shares of REV Group from $13.50 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday. BMO Capital Markets boosted their price objective on shares of REV Group from $14.00 to $15.00 in a research note on Wednesday, June 14th. TheStreet raised shares of REV Group from a “c” rating to a “b” rating in a research note on Friday, June 16th. Finally, Robert W. Baird boosted their price objective on shares of REV Group from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday. One equities 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.17.

Institutional Investors Weigh In On REV Group

Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of REV Group by 101.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,871 shares of the company’s stock worth $25,000 after acquiring an additional 941 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in REV Group by 2.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 41,265 shares of the company’s stock valued at $455,000 after buying an additional 1,082 shares in the last quarter. Quarry LP lifted its stake in REV Group by 69.6% in the 2nd quarter. Quarry LP now owns 2,692 shares of the company’s stock valued at $36,000 after buying an additional 1,105 shares in the last quarter. Renaissance Technologies LLC lifted its stake in REV Group by 1.6% in the 4th quarter. Renaissance Technologies LLC now owns 77,500 shares of the company’s stock valued at $978,000 after buying an additional 1,200 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its stake in REV Group by 63.8% in the 4th quarter. Advisor Group Holdings Inc. now owns 3,100 shares of the company’s stock valued at $39,000 after buying an additional 1,208 shares in the last quarter. 94.92% of the stock is owned by hedge funds and other institutional investors.

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.