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

Hyster-Yale (NYSE:HY) announced its quarterly earnings data 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. Hyster-Yale had a net margin of 0.07% and a return on equity of 5.93%. The business had revenue of $923.20 million for the quarter, compared to analysts’ expectations of $916.43 million.

Hyster-Yale Stock Down 2.1%

Shares of HY stock traded down $0.81 on Tuesday, reaching $38.53. 123,563 shares of the stock were exchanged, compared to its average volume of 101,310. The company has a market capitalization of $683.14 million, a price-to-earnings ratio of 275.23 and a beta of 1.54. The business’s 50 day moving average price is $34.49 and its 200 day moving average price is $34.56. The company has a current ratio of 1.39, a quick ratio of 0.68 and a debt-to-equity ratio of 0.47. Hyster-Yale has a twelve month low of $26.41 and a twelve month high of $46.87.

Hyster-Yale Dividend Announcement

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new stake in Hyster-Yale during the 4th quarter worth $61,000. Aquatic Capital Management LLC boosted its stake in shares of Hyster-Yale by 71.9% during the third quarter. Aquatic Capital Management LLC now owns 3,372 shares of the industrial products company’s stock worth $124,000 after buying an additional 1,410 shares during the period. Amundi grew its holdings in shares of Hyster-Yale by 10.1% during the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock worth $201,000 after buying an additional 444 shares during the last quarter. Intech Investment Management LLC increased its position in Hyster-Yale by 19.2% in the 3rd quarter. Intech Investment Management LLC now owns 6,443 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 1,036 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in Hyster-Yale by 100.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 8,770 shares of the industrial products company’s stock valued at $261,000 after acquiring an additional 4,395 shares during 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.