Hyster-Yale (NYSE:HY) Releases Quarterly Earnings Results, Misses Estimates By $0.86 EPS

Hyster-Yale (NYSE:HY) released its quarterly earnings results on Tuesday. The industrial products company reported ($2.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.86), FiscalAI reports. The business had revenue of $923.20 million for the quarter, compared to the consensus estimate of $916.43 million. Hyster-Yale had a net margin of 0.07% and a return on equity of 5.93%.

Hyster-Yale Price Performance

Shares of NYSE HY traded down $0.81 during mid-day trading on Tuesday, reaching $38.53. The company’s stock had a trading volume of 123,563 shares, compared to its average volume of 101,310. The stock has a fifty day moving average of $34.49 and a two-hundred day moving average of $34.56. The firm has a market capitalization of $683.14 million, a PE ratio of 275.23 and a beta of 1.54. Hyster-Yale has a 52 week low of $26.41 and a 52 week high of $46.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 0.68.

Hyster-Yale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.36 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.44 dividend on an annualized basis and a yield of 3.7%. Hyster-Yale’s dividend payout ratio is presently 1,028.57%.

Wall Street Analysts Forecast Growth

HY has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Hyster-Yale in a research report on Thursday, January 22nd. Northland Securities upgraded shares of Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday. Finally, Roth Mkm set a $40.00 price target on shares of Hyster-Yale in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.00.

Institutional Investors Weigh In On Hyster-Yale

A number of hedge funds have recently bought and sold shares of HY. Dimensional Fund Advisors LP grew its position in Hyster-Yale by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 576,509 shares of the industrial products company’s stock valued at $21,250,000 after acquiring an additional 3,935 shares during the last quarter. Valueworks LLC boosted its stake in shares of Hyster-Yale by 33.2% during the fourth quarter. Valueworks LLC now owns 399,344 shares of the industrial products company’s stock valued at $11,865,000 after purchasing an additional 99,538 shares during the period. State Street Corp grew its holdings in shares of Hyster-Yale by 12.1% in the fourth quarter. State Street Corp now owns 307,794 shares of the industrial products company’s stock worth $9,145,000 after purchasing an additional 33,281 shares during the last quarter. Millennium Management LLC increased its stake 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 worth $6,662,000 after buying an additional 3,401 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Hyster-Yale by 43.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 144,485 shares of the industrial products company’s stock valued at $4,293,000 after buying an additional 43,822 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

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.