Hyster-Yale (NYSE:HY) Issues Quarterly Earnings Results, Beats Estimates By $0.56 EPS

Hyster-Yale (NYSE:HY) issued its quarterly earnings data on Tuesday. The industrial products company reported ($1.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.20) by $0.56, FiscalAI reports. The firm had revenue of $812.90 million during the quarter, compared to the consensus estimate of $804.62 million. Hyster-Yale had a negative return on equity of 20.06% and a negative net margin of 3.33%.

Hyster-Yale Stock Down 7.0%

HY traded down $2.82 on Thursday, hitting $37.65. 59,385 shares of the company were exchanged, compared to its average volume of 95,111. The company has a current ratio of 1.31, a quick ratio of 0.67 and a debt-to-equity ratio of 0.58. The company has a market cap of $674.54 million, a price-to-earnings ratio of -5.74 and a beta of 1.62. The firm has a 50-day moving average price of $34.70 and a two-hundred day moving average price of $35.11. Hyster-Yale has a twelve month low of $26.41 and a twelve month high of $41.30.

Hyster-Yale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 1st were issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a yield of 3.9%. This is a boost from Hyster-Yale’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, June 1st. Hyster-Yale’s dividend payout ratio (DPR) is -22.26%.

Analysts Set New Price Targets

Several research firms recently weighed in on HY. Weiss Ratings reiterated a “sell (d)” rating on shares of Hyster-Yale in a report on Monday. Zacks Research raised Hyster-Yale from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen downgraded Hyster-Yale from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Roth Capital restated a “buy” rating and set a $45.00 target price on shares of Hyster-Yale in a report on Thursday. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $47.50.

Institutional Trading of Hyster-Yale

Large investors have recently made changes to their positions in the company. Osaic Holdings Inc. raised its holdings in Hyster-Yale by 1,477.8% during the fourth quarter. Osaic Holdings Inc. now owns 10,429 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 9,768 shares in the last quarter. Prelude Capital Management LLC acquired a new stake in Hyster-Yale during the 3rd quarter worth $342,000. Amundi purchased a new stake in Hyster-Yale in the third quarter valued at $313,000. Brooklyn Investment Group boosted its stake in Hyster-Yale by 3,605.6% in the third quarter. Brooklyn Investment Group now owns 8,671 shares of the industrial products company’s stock valued at $320,000 after acquiring an additional 8,437 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Hyster-Yale by 7.3% during the third quarter. Legal & General Group Plc now owns 9,958 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 674 shares during the last quarter. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

About Hyster-Yale

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.