Hyster-Yale (NYSE:HY) Sets New 1-Year Low After Earnings Miss

Hyster-Yale, Inc. (NYSE:HY) reached a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $31.06 and last traded at $32.99, with a volume of 20303 shares changing hands. The stock had previously closed at $34.56.

The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Hyster-Yale had a net margin of 0.56% and a return on equity of 9.57%. The firm had revenue of $979.10 million for the quarter, compared to analyst estimates of $955.69 million.

Hyster-Yale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Friday, August 29th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Friday, August 29th. Hyster-Yale’s dividend payout ratio is 1,028.57%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hyster-Yale in a research note on Wednesday, October 8th. Zacks Research raised Hyster-Yale from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Roth Capital set a $40.00 price objective on shares of Hyster-Yale in a research note on Thursday. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Hyster-Yale has an average rating of “Hold” and an average target price of $40.00.

Hedge Funds Weigh In On Hyster-Yale

Hedge funds have recently made changes to their positions in the business. Gamco Investors INC. ET AL raised its holdings in shares of Hyster-Yale by 1.7% during the second quarter. Gamco Investors INC. ET AL now owns 860,607 shares of the industrial products company’s stock worth $34,235,000 after acquiring an additional 14,700 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Hyster-Yale by 8.1% during the 2nd quarter. American Century Companies Inc. now owns 327,204 shares of the industrial products company’s stock worth $13,016,000 after purchasing an additional 24,389 shares in the last quarter. Valueworks LLC lifted its holdings in shares of Hyster-Yale by 10.4% during the 1st quarter. Valueworks LLC now owns 282,907 shares of the industrial products company’s stock valued at $11,752,000 after buying an additional 26,567 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Hyster-Yale by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 273,528 shares of the industrial products company’s stock valued at $10,883,000 after buying an additional 10,507 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Hyster-Yale by 18.2% in the second quarter. Acadian Asset Management LLC now owns 190,471 shares of the industrial products company’s stock worth $7,566,000 after buying an additional 29,312 shares during the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.40 and a quick ratio of 0.65. The stock has a market capitalization of $605.35 million, a price-to-earnings ratio of 27.55 and a beta of 1.57. The stock’s 50 day simple moving average is $36.32 and its 200-day simple moving average is $38.89.

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.