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

Hyster-Yale (NYSE:HY) announced its quarterly earnings results on Tuesday. The industrial products company reported ($1.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.20) by $0.56, FiscalAI reports. Hyster-Yale had a negative net margin of 2.71% and a negative return on equity of 13.96%.

Hyster-Yale Price Performance

HY stock remained flat at $35.06 during trading hours on Tuesday. 99,824 shares of the company’s stock traded hands, compared to its average volume of 93,461. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.67. Hyster-Yale has a 12 month low of $26.41 and a 12 month high of $42.33. The stock has a 50 day moving average of $34.62 and a 200 day moving average of $35.05. The stock has a market cap of $628.28 million, a P/E ratio of -6.27 and a beta of 1.62.

Hyster-Yale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 1st were given a dividend of $0.365 per share. The ex-dividend date of this dividend was Monday, June 1st. This is a boost from Hyster-Yale’s previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a yield of 4.2%. Hyster-Yale’s payout ratio is -26.12%.

Hedge Funds Weigh In On Hyster-Yale

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its position in Hyster-Yale by 34.6% during the 4th quarter. Mackenzie Financial Corp now owns 47,048 shares of the industrial products company’s stock worth $1,397,000 after acquiring an additional 12,104 shares during the last quarter. Empowered Funds LLC raised its stake in Hyster-Yale by 10.6% during the 4th quarter. Empowered Funds LLC now owns 66,609 shares of the industrial products company’s stock valued at $1,979,000 after purchasing an additional 6,408 shares during the last quarter. XTX Topco Ltd acquired a new stake in Hyster-Yale in the 4th quarter worth $405,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Hyster-Yale in the fourth quarter valued at about $696,000. Finally, Millennium Management LLC raised its holdings in Hyster-Yale by 1.5% in the 4th quarter. Millennium Management LLC now owns 224,251 shares of the industrial products company’s stock valued at $6,662,000 after acquiring an additional 3,401 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

Analyst Upgrades and Downgrades

HY has been the subject of several analyst reports. Weiss Ratings downgraded shares of Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Wall Street Zen cut Hyster-Yale from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $45.00.

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.