$755.30 Million in Sales Expected for Hyster-Yale Materials Handling, Inc. (HY) This Quarter
Wall Street analysts predict that Hyster-Yale Materials Handling, Inc. (NYSE:HY) will post $755.30 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Hyster-Yale Materials Handling’s earnings, with estimates ranging from $747.10 million to $763.50 million. Hyster-Yale Materials Handling reported sales of $690.60 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The business is scheduled to report its next earnings results on Tuesday, February 27th.
On average, analysts expect that Hyster-Yale Materials Handling will report full year sales of $755.30 million for the current financial year, with estimates ranging from $2.84 billion to $2.85 billion. For the next fiscal year, analysts expect that the business will post sales of $3.13 billion per share, with estimates ranging from $2.98 billion to $3.29 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Hyster-Yale Materials Handling.
Several research firms have recently weighed in on HY. Zacks Investment Research raised shares of Hyster-Yale Materials Handling from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. ValuEngine raised shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Seaport Global Securities lowered shares of Hyster-Yale Materials Handling from a “neutral” rating to a “sell” rating and set a $56.00 price target for the company. in a report on Monday, November 6th. Finally, Sidoti reissued a “neutral” rating on shares of Hyster-Yale Materials Handling in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $74.00.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc increased its holdings in Hyster-Yale Materials Handling by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 3,361 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 156 shares in the last quarter. Rhumbline Advisers boosted its stake in Hyster-Yale Materials Handling by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 12,520 shares of the industrial products company’s stock worth $880,000 after purchasing an additional 190 shares during the last quarter. US Bancorp DE boosted its stake in Hyster-Yale Materials Handling by 3.8% during the 2nd quarter. US Bancorp DE now owns 8,132 shares of the industrial products company’s stock worth $571,000 after purchasing an additional 301 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Hyster-Yale Materials Handling by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,119 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 319 shares during the last quarter. Finally, Strs Ohio boosted its stake in Hyster-Yale Materials Handling by 6.1% during the 2nd quarter. Strs Ohio now owns 8,700 shares of the industrial products company’s stock worth $611,000 after purchasing an additional 500 shares during the last quarter. 51.64% of the stock is owned by institutional investors.
Hyster-Yale Materials Handling (HY) opened at $83.21 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.02 and a current ratio of 1.64. The firm has a market cap of $1,369.80, a P/E ratio of 23.57 and a beta of 1.06. Hyster-Yale Materials Handling has a 1-year low of $53.50 and a 1-year high of $93.90.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, November 30th. Hyster-Yale Materials Handling’s payout ratio is presently 31.59%.
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About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc is a lift truck manufacturer. The Company designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships.
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