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

REV Group, Inc. (NYSE:REVG) announced a quarterly dividend on Thursday, June 5th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, June 27th.

REV Group has a dividend payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Up 0.5%

NYSE:REVG opened at $44.61 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.53 and a current ratio of 1.66. REV Group has a one year low of $21.54 and a one year high of $46.10. The business’s 50-day simple moving average is $37.85 and its 200 day simple moving average is $34.13. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 23.73 and a beta of 1.12.

REV Group (NYSE:REVG) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.13. REV Group had a return on equity of 23.99% and a net margin of 4.16%. The company had revenue of $629.10 million for the quarter, compared to the consensus estimate of $603.51 million. During the same period in the previous year, the business earned $0.39 EPS. REV Group’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that REV Group will post 2.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

REVG has been the subject of a number of research analyst reports. DA Davidson lifted their price target on shares of REV Group from $39.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, June 5th. The Goldman Sachs Group boosted their target price on shares of REV Group from $26.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, May 27th. Morgan Stanley upgraded REV Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $33.00 to $46.00 in a research note on Wednesday, June 18th. Finally, Wall Street Zen upgraded REV Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.25.

Insider Buying and Selling

In related news, CEO Jr. Mark A. Skonieczny sold 92,601 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $43.83, for a total transaction of $4,058,701.83. Following the completion of the sale, the chief executive officer now owns 516,446 shares of the company’s stock, valued at $22,635,828.18. This represents a 15.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by company insiders.

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 stake in shares of REV Group, Inc. (NYSE:REVG) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,726 shares of the company’s stock after purchasing an additional 1,520 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of REV Group worth $971,000 as of its most recent SEC filing.

REV Group Company Profile

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.