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

Key Points

• Hyster-Yale, Inc. has announced a quarterly dividend of $0.36 per share, with payment scheduled for September 16th to stockholders of record as of August 29th, representing a 3.8% dividend yield.
• The company reported a loss of $0.14 EPS for the recent quarter, missing the consensus estimate of $0.26, but exceeded revenue expectations with $956.6 million.
• Equities analysts downgraded Hyster-Yale from a "buy" rating to a "hold" rating amid current market conditions, indicating a cautious outlook for the stock.

Hyster-Yale, Inc. (NYSE:HY - Get Free Report) declared a quarterly dividend on Wednesday, August 13th, RTT News reports. Investors of record on Friday, August 29th will be given a dividend of 0.36 per share by the industrial products company on Tuesday, September 16th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 29th.

Hyster-Yale has a dividend payout ratio of 48.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hyster-Yale to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 26.0%.

Hyster-Yale Stock Performance

Hyster-Yale stock traded down $0.98 during mid-day trading on Friday, reaching $36.37. The company had a trading volume of 64,343 shares, compared to its average volume of 75,657. The company has a quick ratio of 0.65, a current ratio of 1.40 and a debt-to-equity ratio of 0.45. Hyster-Yale has a 52 week low of $34.13 and a 52 week high of $69.28. The company has a 50 day moving average of $40.55 and a 200-day moving average of $42.69. The firm has a market cap of $644.11 million, a price-to-earnings ratio of 29.33 and a beta of 1.53.

Hyster-Yale (NYSE:HY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.40). Hyster-Yale had a net margin of 0.56% and a return on equity of 9.57%. The company had revenue of $956.60 million during the quarter, compared to the consensus estimate of $936.90 million. On average, sell-side analysts expect that Hyster-Yale will post 8.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Hyster-Yale to a "strong sell" rating in a report on Friday, August 8th. Wall Street Zen downgraded shares of Hyster-Yale from a "buy" rating to a "hold" rating in a report on Thursday, May 8th.

About Hyster-Yale

Hyster-Yale, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.