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

Hyster-Yale (NYSE:HY) announced 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. Hyster-Yale had a negative return on equity of 13.96% and a negative net margin of 2.71%.The company had revenue of $812.90 million for the quarter, compared to analysts’ expectations of $804.62 million.

Hyster-Yale Stock Performance

Hyster-Yale stock traded up $4.09 during trading hours on Wednesday, hitting $39.22. The company had a trading volume of 194,466 shares, compared to its average volume of 93,979. The firm has a 50-day moving average of $34.62 and a 200 day moving average of $35.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.67. The firm has a market cap of $702.82 million, a PE ratio of -7.01 and a beta of 1.62. Hyster-Yale has a one year low of $26.41 and a one year high of $41.00.

Hyster-Yale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st were issued a $0.365 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.46 annualized dividend and a yield of 3.7%. This is an increase from Hyster-Yale’s previous quarterly dividend of $0.36. Hyster-Yale’s payout ratio is currently -26.12%.

Hedge Funds Weigh In On Hyster-Yale

A number of large investors have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new stake in shares of Hyster-Yale during the fourth quarter worth $61,000. Aquatic Capital Management LLC increased its holdings 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 purchasing an additional 1,410 shares during the period. Amundi raised its position in shares of Hyster-Yale by 10.1% in the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock valued at $201,000 after buying an additional 444 shares in the last quarter. Intech Investment Management LLC grew its position in Hyster-Yale by 19.2% during the third quarter. Intech Investment Management LLC now owns 6,443 shares of the industrial products company’s stock worth $237,000 after buying an additional 1,036 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in Hyster-Yale by 3,605.6% in the 3rd 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. Institutional investors own 46.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of Hyster-Yale from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Research raised shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hyster-Yale in a report on Monday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Hyster-Yale currently has an average rating of “Hold” and an average 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.