Hyster-Yale (NYSE:HY) Issues Quarterly Earnings Results

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

Hyster-Yale Price Performance

Shares of NYSE:HY opened at $38.53 on Wednesday. The company has a market cap of $683.14 million, a P/E ratio of 275.23 and a beta of 1.54. The business has a fifty day simple moving average of $34.64 and a 200-day simple moving average of $34.57. Hyster-Yale has a 52 week low of $26.41 and a 52 week high of $46.87. The company has a quick ratio of 0.68, a current ratio of 1.39 and a debt-to-equity ratio of 0.47.

Hyster-Yale Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, February 27th. This represents a $1.44 annualized dividend and a dividend yield of 3.7%. Hyster-Yale’s dividend payout ratio (DPR) is 1,028.57%.

Institutional Trading of Hyster-Yale

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HY. Millennium Management LLC lifted its holdings in shares of Hyster-Yale by 113.5% during the 3rd quarter. Millennium Management LLC now owns 220,850 shares of the industrial products company’s stock worth $8,141,000 after acquiring an additional 117,415 shares during the period. Valueworks LLC increased its position in Hyster-Yale by 33.2% during the fourth quarter. Valueworks LLC now owns 399,344 shares of the industrial products company’s stock worth $11,865,000 after purchasing an additional 99,538 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Hyster-Yale by 58.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 120,803 shares of the industrial products company’s stock worth $3,589,000 after purchasing an additional 44,750 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Hyster-Yale by 43.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 144,485 shares of the industrial products company’s stock worth $4,293,000 after purchasing an additional 43,822 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Hyster-Yale by 110.6% in the 1st quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company’s stock valued at $3,306,000 after purchasing an additional 41,795 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HY. Weiss Ratings restated a “hold (c-)” rating on shares of Hyster-Yale in a research report on Thursday, January 22nd. Northland Securities raised Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Monday. Finally, Roth Mkm set a $40.00 price objective on Hyster-Yale in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.00.

Hyster-Yale Company Profile

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.