Hyster-Yale, Inc. (NYSE:HY) Shares to Pay Quarterly Dividend of $0.36

Key Points

• Hyster-Yale declared a quarterly dividend of $0.365 per share, payable December 15 to shareholders of record December 1. The annualized dividend is $1.46, representing a 5.1% yield.
• The company’s latest quarter missed expectations, reporting a loss of $0.77 per share versus the expected $0.59 loss, and revenue of $827.4 million versus $926.45 million expected.
• Analysts’ consensus rating is Hold, with an average price target of $47.50. The current dividend is covered by earnings at a 50.3% payout ratio, though analysts expect that ratio to rise to 70.9% next year.

Hyster-Yale, Inc. (NYSE:HY - Get Free Report) announced a quarterly dividend on Tuesday, November 10th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.3650 per share by the industrial products company on Tuesday, December 15th. This represents a $1.46 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Tuesday, December 1st.

Hyster-Yale has a payout ratio of 50.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hyster-Yale to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 70.9%.

Hyster-Yale Trading Up 2.0%

Shares of HY stock traded up $0.56 during trading hours on Wednesday, reaching $28.55. The company had a trading volume of 20,055 shares, compared to its average volume of 105,190. Hyster-Yale has a 1-year low of $26.41 and a 1-year high of $41.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.24 and a quick ratio of 0.65. The firm has a market cap of $511.81 million, a price-to-earnings ratio of -3.93 and a beta of 1.71. The company has a 50 day moving average of $31.32 and a 200 day moving average of $34.14.

Hyster-Yale (NYSE:HY - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The industrial products company reported ($0.77) EPS for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.18). The company had revenue of $827.40 million during the quarter, compared to the consensus estimate of $926.45 million. Hyster-Yale had a negative net margin of 3.86% and a negative return on equity of 26.03%. On average, equities research analysts anticipate that Hyster-Yale will post -2.91 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on HY shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Hyster-Yale in a report on Friday, October 30th. Roth Capital reiterated a "buy" rating and set a $45.00 price objective on shares of Hyster-Yale in a report on Thursday, August 6th. Finally, Wall Street Zen lowered Hyster-Yale from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Hyster-Yale currently has an average rating of "Hold" and a consensus price target of $47.50.

About Hyster-Yale

Hyster-Yale, Inc. designs, manufactures and sells lift trucks and related products and services for moving and handling materials. Its equipment is marketed primarily under the Hyster and Yale brand names and includes electric and internal-combustion lift trucks, as well as warehouse equipment for applications such as order picking and pallet handling. The company also provides parts, maintenance and other support services through its global dealer networks. Its businesses include Bolzoni, which makes lift-truck attachments and material-handling equipment, and Nuvera, which develops fuel-cell technology.

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