Hyster-Yale (NYSE:HY) Announces Earnings Results, Misses Expectations By $0.12 EPS

Hyster-Yale (NYSE:HY) issued its quarterly earnings data on Tuesday. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12), Zacks reports. Hyster-Yale had a return on equity of 9.57% and a net margin of 0.56%.

Hyster-Yale Trading Down 2.6%

Shares of NYSE:HY traded down $0.94 on Tuesday, hitting $34.69. The company had a trading volume of 115,951 shares, compared to its average volume of 72,614. The firm’s 50-day simple moving average is $36.55 and its two-hundred day simple moving average is $38.98. Hyster-Yale has a 1 year low of $34.12 and a 1 year high of $58.72. The firm has a market capitalization of $614.67 million, a price-to-earnings ratio of 27.97 and a beta of 1.51. The company has a quick ratio of 0.65, a current ratio of 1.40 and a debt-to-equity ratio of 0.45.

Hyster-Yale Dividend Announcement

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

Institutional Trading of Hyster-Yale

Hedge funds have recently bought and sold shares of the company. Amundi increased its position in shares of Hyster-Yale by 10.1% during the 1st quarter. Amundi now owns 4,844 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 444 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Hyster-Yale by 110.6% during the first quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company’s stock valued at $3,306,000 after purchasing an additional 41,795 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Hyster-Yale by 20.5% in the 1st quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company’s stock valued at $4,967,000 after acquiring an additional 20,305 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Hyster-Yale by 99.6% in the 1st quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company’s stock valued at $2,023,000 after acquiring an additional 24,302 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Hyster-Yale by 19.8% during the first quarter. Jane Street Group LLC now owns 35,034 shares of the industrial products company’s stock valued at $1,455,000 after acquiring an additional 5,802 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HY. Weiss Ratings restated a “hold (c-)” rating on shares of Hyster-Yale in a research report on Wednesday, October 8th. Zacks Research raised shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $70.00.

Hyster-Yale Company Profile

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.