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

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

Hyster-Yale Stock Performance

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. Hyster-Yale has a 1-year low of $34.12 and a 1-year high of $58.72. The stock has a market cap of $614.67 million, a price-to-earnings ratio of 27.97 and a beta of 1.51. The stock has a 50 day moving average price of $36.55 and a 200 day moving average price of $38.98. The company has a current ratio of 1.40, a quick ratio of 0.65 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. Stockholders of record on Friday, August 29th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, August 29th. Hyster-Yale’s payout ratio is currently 116.13%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Zacks Research upgraded shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Hyster-Yale in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Hyster-Yale currently has an average rating of “Hold” and an average target price of $70.00.

Institutional Investors Weigh In On Hyster-Yale

A number of institutional investors have recently modified their holdings of the business. AQR Capital Management LLC increased its stake in Hyster-Yale by 110.6% during the 1st quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company’s stock worth $3,306,000 after acquiring an additional 41,795 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Hyster-Yale by 252.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 50,220 shares of the industrial products company’s stock worth $1,998,000 after purchasing an additional 35,957 shares in the last quarter. Empowered Funds LLC increased its position in Hyster-Yale by 99.6% during the 1st quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company’s stock worth $2,023,000 after purchasing an additional 24,302 shares in the last quarter. Millennium Management LLC increased its position in Hyster-Yale by 20.5% during the 1st quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company’s stock worth $4,967,000 after purchasing an additional 20,305 shares in the last quarter. Finally, Engineers Gate Manager LP increased its position in Hyster-Yale by 216.4% during the 2nd quarter. Engineers Gate Manager LP now owns 23,323 shares of the industrial products company’s stock worth $928,000 after purchasing an additional 15,951 shares in the last quarter. Institutional investors own 46.47% of the company’s stock.

About Hyster-Yale

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.