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

Key Points

• Hyster-Yale reported quarterly EPS of ($1.64), beating analysts’ consensus estimate of ($2.20) by $0.56, though the company posted a negative net margin and return on equity.
• The company increased its quarterly dividend to $0.365 per share, implying an annualized payout of $1.46 and a 4.2% yield.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a $45 target price; institutional investors own 46.47% of shares and several large funds recently increased their positions.

Hyster-Yale (NYSE:HY - Get Free Report) posted its quarterly earnings data on Tuesday. The industrial products company reported ($1.64) 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%.

Hyster-Yale Stock Performance

Hyster-Yale stock remained flat at $35.06 during mid-day trading on Tuesday. The company had a trading volume of 99,554 shares, compared to its average volume of 93,461. The firm's 50 day moving average is $34.62 and its 200-day moving average is $35.05. 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 $628.28 million, a PE ratio of -6.27 and a beta of 1.62. Hyster-Yale has a fifty-two week low of $26.41 and a fifty-two week high of $42.33.

Hyster-Yale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 1st were issued a $0.365 dividend. This is a positive change from Hyster-Yale's previous quarterly dividend of $0.36. This represents a $1.46 annualized dividend and a yield of 4.2%. The ex-dividend date was Monday, June 1st. Hyster-Yale's dividend payout ratio (DPR) is -26.12%.

Analyst Upgrades and Downgrades

HY has been the subject of a number of research analyst reports. Zacks Research raised Hyster-Yale from a "strong sell" rating to a "hold" rating in a report on Monday, May 4th. Weiss Ratings cut shares of Hyster-Yale from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Hyster-Yale from a "hold" rating to a "sell" rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Hyster-Yale currently has an average rating of "Hold" and a consensus target price of $45.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position 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 valued at $8,141,000 after acquiring an additional 117,415 shares during the last quarter. Valueworks LLC boosted its position in shares of Hyster-Yale by 33.2% in the 4th 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. boosted its position in shares of Hyster-Yale by 58.8% in the 4th 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 last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of 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 grew its stake in shares of Hyster-Yale by 110.6% during the first quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company's stock worth $3,306,000 after purchasing an additional 41,795 shares during the period. 46.47% of the stock is currently owned by institutional investors and hedge funds.

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.

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