Hyster-Yale (NYSE:HY) Announces Quarterly Earnings Results, Misses Estimates By $0.40 EPS

Key Points

• Hyster-Yale reported a quarterly earnings per share (EPS) of ($0.14), falling short of the consensus estimate of $0.07 by ($0.21).
• The company has recently increased its quarterly dividend to $0.36, up from $0.35, representing an annualized payout of $1.44 and a yield of 3.4%.
• Hyster-Yale's stock saw a 2.4% increase during midday trading, reaching a price of $42.33, with significant trading activity compared to its average volume.

Hyster-Yale (NYSE:HY - Get Free Report) issued its quarterly earnings data on Tuesday. The industrial products company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.40), Zacks reports. Hyster-Yale had a return on equity of 9.57% and a net margin of 0.56%. The company had revenue of $956.60 million for the quarter, compared to analyst estimates of $936.90 million.

Hyster-Yale Price Performance

HY traded down $1.32 on Friday, hitting $36.07. 43,062 shares of the stock were exchanged, compared to its average volume of 73,900. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.40 and a quick ratio of 0.65. Hyster-Yale has a 12 month low of $34.13 and a 12 month high of $69.28. The firm has a market capitalization of $638.71 million, a price-to-earnings ratio of 29.08 and a beta of 1.53. The business has a 50-day moving average of $41.00 and a two-hundred day moving average of $43.46.

Hyster-Yale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.0%. This is a boost from Hyster-Yale's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, May 30th. Hyster-Yale's payout ratio is presently 116.13%.

Analyst Ratings Changes

Separately, Wall Street Zen cut Hyster-Yale from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th.

Institutional Trading of Hyster-Yale

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Hyster-Yale by 110.6% in the 1st 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 in the last quarter. Empowered Funds LLC grew its holdings in shares of Hyster-Yale by 99.6% during the first quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company's stock worth $2,023,000 after purchasing an additional 24,302 shares during the last quarter. Millennium Management LLC increased its stake in shares of Hyster-Yale by 20.5% in the first quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company's stock valued at $4,967,000 after buying an additional 20,305 shares during the period. Jane Street Group LLC raised its holdings in Hyster-Yale by 19.8% in the 1st quarter. Jane Street Group LLC now owns 35,034 shares of the industrial products company's stock valued at $1,455,000 after buying an additional 5,802 shares during the last quarter. Finally, Amundi boosted its position in Hyster-Yale by 10.1% during the 1st quarter. Amundi now owns 4,844 shares of the industrial products company's stock worth $201,000 after buying an additional 444 shares during the period. Institutional investors and hedge funds own 46.47% of the company's stock.

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.