Hyster-Yale Materials Handling (NYSE:HY) Posts Earnings Results

Hyster-Yale Materials Handling (NYSE:HY) released its earnings results on Tuesday. The industrial products company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.38 by $0.09, Zacks reports. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%.

Hyster-Yale Materials Handling Stock Performance

Shares of NYSE HY traded up $1.06 during midday trading on Tuesday, hitting $51.67. 76,135 shares of the company’s stock were exchanged, compared to its average volume of 66,339. Hyster-Yale Materials Handling has a twelve month low of $48.73 and a twelve month high of $84.44. The firm has a market cap of $904.64 million, a P/E ratio of 5.80 and a beta of 1.26. The stock’s 50 day moving average price is $52.04 and its 200-day moving average price is $57.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61.

Hyster-Yale Materials Handling Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.40 annualized dividend and a dividend yield of 2.71%. Hyster-Yale Materials Handling’s dividend payout ratio is currently 15.71%.

Hyster-Yale Materials Handling announced that its Board of Directors has authorized a stock buyback plan on Monday, November 18th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HY shares. StockNews.com lowered shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Roth Mkm reduced their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hyster-Yale Materials Handling has an average rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling 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.