Hyster-Yale (NYSE:HY) Stock Price Down 6.3% - Here's What Happened

Key Points

• Hyster-Yale shares fell 6.3% to about $30.83 in mid-day trading, with volume down 28% from the average.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $47.50 target price, despite Roth Capital maintaining a “Buy” rating and others issuing “Sell” calls.
• The company reported a quarterly loss of $1.64 per share but exceeded analysts’ expectations, while maintaining a quarterly dividend of $0.365, equal to a 4.7% annualized yield.

Hyster-Yale, Inc. (NYSE:HY - Get Free Report)'s share price fell 6.3% during mid-day trading on Thursday . The company traded as low as $30.90 and last traded at $30.83. 69,104 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 96,340 shares. The stock had previously closed at $32.89.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HY. Roth Capital reiterated a "buy" rating and set a $45.00 target price on shares of Hyster-Yale in a research note on Thursday, August 6th. Weiss Ratings reiterated a "sell (d)" rating on shares of Hyster-Yale in a report on Monday, August 3rd. Finally, Wall Street Zen cut Hyster-Yale from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $47.50.

Hyster-Yale Stock Down 6.2%

The firm's 50 day simple moving average is $34.09 and its 200-day simple moving average is $34.60. The company has a market cap of $553.23 million, a price-to-earnings ratio of -4.71 and a beta of 1.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 0.65.

Hyster-Yale (NYSE:HY - Get Free Report) last announced its earnings results on Tuesday, August 4th. The industrial products company reported ($1.64) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.20) by $0.56. The firm had revenue of $812.90 million during the quarter, compared to analysts' expectations of $804.62 million. Hyster-Yale had a negative return on equity of 21.03% and a negative net margin of 3.33%. As a group, sell-side analysts anticipate that Hyster-Yale, Inc. will post -2.91 earnings per share for the current year.

Hyster-Yale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Tuesday, September 1st. Hyster-Yale's payout ratio is presently -22.26%.

Institutional Investors Weigh In On Hyster-Yale

Several large investors have recently modified their holdings of HY. Deprince Race & Zollo Inc. acquired a new stake in shares of Hyster-Yale in the 1st quarter worth $8,696,000. OP Asset Management Ltd acquired a new position in Hyster-Yale during the first quarter worth about $1,833,000. Impala Asset Management LLC purchased a new position in Hyster-Yale in the fourth quarter valued at about $1,486,000. Dimensional Fund Advisors LP lifted its position in shares of Hyster-Yale by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 587,683 shares of the industrial products company's stock valued at $19,105,000 after acquiring an additional 28,642 shares during the period. Finally, Cooper Haims Advisors LLC acquired a new stake in shares of Hyster-Yale during the 2nd quarter valued at approximately $898,000. Hedge funds and other institutional investors own 46.47% of the company's stock.

About Hyster-Yale

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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