Hyster-Yale (NYSE:HY) Shares Up 12% on Strong Earnings

Key Points

• Hyster-Yale shares surged 12% after the company reported quarterly EPS of negative $1.64, beating the consensus estimate of negative $2.20, while revenue of $812.9 million also exceeded expectations.
• The company increased its quarterly dividend to $0.365 per share, or $1.46 annualized, representing a dividend yield of approximately 3.8%.
• Analyst sentiment remains mixed, with the stock holding an overall “Hold” rating and a $45 average price target; institutional investors own 46.47% of the company.

Hyster-Yale, Inc. (NYSE:HY - Get Free Report)'s share price rose 12% during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $39.34 and last traded at $39.34. 107,188 shares changed hands during trading, an increase of 15% from the average session volume of 93,519 shares. The stock had previously closed at $35.13.

The industrial products company reported ($1.64) EPS for the quarter, beating analysts' consensus estimates of ($2.20) by $0.56. Hyster-Yale had a negative return on equity of 13.96% and a negative net margin of 2.71%.The business had revenue of $812.90 million during the quarter, compared to analyst estimates of $804.62 million.

Hyster-Yale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 1st were paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, June 1st. This is a positive change from Hyster-Yale's previous quarterly dividend of $0.36. Hyster-Yale's dividend payout ratio (DPR) is presently -26.12%.

Analyst Ratings Changes

HY has been the topic of several recent research reports. Weiss Ratings restated a "sell (d)" rating on shares of Hyster-Yale in a research report on Monday. Wall Street Zen cut shares of Hyster-Yale from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Zacks Research upgraded Hyster-Yale from a "strong sell" rating to a "hold" rating in a research report on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $45.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Deprince Race & Zollo Inc. bought a new position in shares of Hyster-Yale during the 1st quarter worth approximately $8,696,000. Millennium Management LLC raised its stake in Hyster-Yale by 113.5% in the third quarter. Millennium Management LLC now owns 220,850 shares of the industrial products company's stock valued at $8,141,000 after buying an additional 117,415 shares during the last quarter. Valueworks LLC boosted its holdings in Hyster-Yale by 33.2% in the fourth quarter. Valueworks LLC now owns 399,344 shares of the industrial products company's stock worth $11,865,000 after acquiring an additional 99,538 shares in the last quarter. OP Asset Management Ltd purchased a new position in shares of Hyster-Yale in the 1st quarter valued at approximately $1,833,000. Finally, Impala Asset Management LLC purchased a new stake in Hyster-Yale during the 4th quarter worth approximately $1,486,000. Institutional investors own 46.47% of the company's stock.

Hyster-Yale Trading Up 10.4%

The stock's fifty day simple moving average is $34.62 and its 200-day simple moving average is $35.06. 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 $695.30 million, a PE ratio of -6.94 and a beta of 1.62.

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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