Hyster-Yale (NYSE:HY) Hits New 52-Week Low - Time to Sell?

Key Points

• Hyster-Yale's stock hit a new 52-week low at $34.12 before closing at $34.16, indicating a decline of 3.4% during the trading session.
• Despite the drop, analysts hold a consensus rating of "Hold" for Hyster-Yale, with an average price target of $70.00.
• The company reported a net margin of 0.56% and a quarterly EPS of ($0.14), missing the consensus estimate of $0.26.

Hyster-Yale, Inc. (NYSE:HY - Get Free Report)'s share price hit a new 52-week low during trading on Friday . The company traded as low as $34.12 and last traded at $34.16, with a volume of 42080 shares changing hands. The stock had previously closed at $35.35.

Wall Street Analysts Forecast Growth

HY has been the topic of a number of research reports. Weiss Ratings restated a "hold (c-)" rating on shares of Hyster-Yale in a report on Wednesday. Zacks Research upgraded Hyster-Yale from a "strong sell" rating to a "hold" rating in a report on Monday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $70.00.

Hyster-Yale Stock Down 3.4%

The company has a quick ratio of 0.65, a current ratio of 1.40 and a debt-to-equity ratio of 0.45. The firm has a 50 day simple moving average of $37.23 and a 200-day simple moving average of $39.39. The stock has a market cap of $605.35 million, a P/E ratio of 27.55 and a beta of 1.51.

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

Hyster-Yale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th were paid a $0.36 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.44 annualized dividend and a yield of 4.2%. Hyster-Yale's dividend payout ratio is currently 116.13%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE grew its position in Hyster-Yale by 15.2% during the first quarter. US Bancorp DE now owns 1,989 shares of the industrial products company's stock worth $83,000 after buying an additional 263 shares in the last quarter. Quantbot Technologies LP grew its position in Hyster-Yale by 25.8% during the first quarter. Quantbot Technologies LP now owns 4,073 shares of the industrial products company's stock worth $169,000 after buying an additional 835 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Hyster-Yale by 1,641.5% during the second quarter. Public Employees Retirement System of Ohio now owns 4,319 shares of the industrial products company's stock worth $172,000 after buying an additional 4,071 shares in the last quarter. Amundi grew its position in 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 in the last quarter. Finally, Inspire Investing LLC grew its position in Hyster-Yale by 4.5% during the first quarter. Inspire Investing LLC now owns 8,232 shares of the industrial products company's stock worth $342,000 after buying an additional 358 shares in the last quarter. 46.47% of the stock is owned by institutional investors and hedge funds.

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.

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