Hyster-Yale (NYSE:HY) Stock Price Down 4.9% - Should You Sell?

Key Points

• Hyster-Yale shares fell 4.9% to about $29.94, with trading volume down 92% from the average. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with an average rating of “Hold” and a $47.50 price target; ratings range from “Sell” to “Buy,” including Roth Capital’s $45 target.
• The company beat quarterly revenue and adjusted EPS expectations, but remains unprofitable, with a projected full-year loss of $2.91 per share. Hyster-Yale also pays a $1.46 annualized dividend, yielding approximately 5.0%.

Shares of Hyster-Yale, Inc. (NYSE:HY - Get Free Report) traded down 4.9% during trading on Thursday. The stock traded as low as $30.22 and last traded at $29.9360. Approximately 7,627 shares traded hands during trading, a decline of 92% from the average daily volume of 98,798 shares. The stock had previously closed at $31.47.

Wall Street Analysts Forecast Growth

HY has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Hyster-Yale from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Weiss Ratings reiterated a "sell (d)" rating on shares of Hyster-Yale in a report on Monday, August 3rd. Finally, Roth Capital reissued a "buy" rating and set a $45.00 price target on shares of Hyster-Yale in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Hyster-Yale currently has an average rating of "Hold" and an average price target of $47.50.

Hyster-Yale Stock Down 7.0%

The firm's 50-day moving average price is $33.95 and its 200-day moving average price is $34.55. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 0.65. The company has a market cap of $524.88 million, a price-to-earnings ratio of -4.50 and a beta of 1.65.

Hyster-Yale (NYSE:HY - Get Free Report) last posted its earnings results on Tuesday, August 4th. The industrial products company reported ($1.64) earnings per share for the quarter, beating the consensus estimate of ($2.20) by $0.56. Hyster-Yale had a negative net margin of 3.33% and a negative return on equity of 21.03%. The business had revenue of $812.90 million for the quarter, compared to analyst estimates of $804.62 million. Sell-side analysts forecast that Hyster-Yale, Inc. will post -2.91 earnings per share for the current fiscal year.

Hyster-Yale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a $0.3650 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.46 annualized dividend and a dividend yield of 5.0%. Hyster-Yale's dividend payout ratio is presently -22.26%.

Institutional Investors Weigh In On Hyster-Yale

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Hyster-Yale by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 587,683 shares of the industrial products company's stock worth $19,105,000 after acquiring an additional 28,642 shares during the period. OP Asset Management Ltd purchased a new stake in shares of Hyster-Yale during the first quarter valued at approximately $1,833,000. Cooper Haims Advisors LLC purchased a new stake in shares of Hyster-Yale during the second quarter valued at approximately $898,000. Deprince Race & Zollo Inc. acquired a new position in shares of Hyster-Yale during the first quarter worth $8,696,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Hyster-Yale in the second quarter valued at $775,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Company Profile

Hyster-Yale, Inc NYSE: HY is a global manufacturer of materials-handling equipment. Through its Hyster and Yale brands, the company designs and produces lift trucks, including electric, internal-combustion-engine and warehouse models, for moving and storing materials in industrial, manufacturing, distribution and logistics environments.

The company also provides related replacement parts, service and support through a network of dealers and other distribution channels. Its broader product portfolio includes warehouse equipment and specialized materials-handling solutions.

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