Hyster-Yale (NYSE:HY) Shares Gap Down After Earnings Miss

Hyster-Yale, Inc. (NYSE:HY) shares gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $30.02, but opened at $27.01. Hyster-Yale shares last traded at $28.96, with a volume of 16,643 shares changing hands.

The industrial products company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.18). The business had revenue of $827.40 million for the quarter, compared to analysts’ expectations of $926.45 million. Hyster-Yale had a negative return on equity of 21.03% and a negative net margin of 3.33%.

Hyster-Yale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.3650 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.46 dividend on an annualized basis and a yield of 5.2%. Hyster-Yale’s payout ratio is presently -22.26%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HY. Roth Capital reaffirmed a “buy” rating and set a $45.00 price objective on shares of Hyster-Yale in a research note on Thursday, August 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Hyster-Yale in a research note on Friday, October 30th. Finally, Wall Street Zen lowered shares of Hyster-Yale from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Hyster-Yale presently has a consensus rating of “Hold” and a consensus price target of $47.50.

Institutional Trading of Hyster-Yale

Several large investors have recently added to or reduced their stakes in HY. Optiver Holding B.V. acquired a new stake in shares of Hyster-Yale in the 1st quarter worth $33,000. CrossGen Wealth LLC purchased a new position in shares of Hyster-Yale during the 3rd quarter worth $48,000. State of Wyoming purchased a new position in shares of Hyster-Yale during the 1st quarter worth $204,000. Steinberganna Wealth Management boosted its position in shares of Hyster-Yale by 11.1% during the 3rd quarter. Steinberganna Wealth Management now owns 6,938 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 693 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Hyster-Yale during the 1st quarter valued at about $261,000. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

Hyster-Yale Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.65 and a current ratio of 1.28. The firm’s 50-day moving average price is $31.66 and its two-hundred day moving average price is $34.22. The stock has a market cap of $500.89 million, a price-to-earnings ratio of -4.26 and a beta of 1.71.

Hyster-Yale Company Profile

Hyster-Yale, Inc is a global manufacturer of materials-handling equipment. Through its Hyster and Yale brands, the company designs, engineers, manufactures, sells and services lift trucks and related warehouse equipment used to move, store and manage materials in industrial, manufacturing, distribution and logistics operations.

Its product portfolio includes electric, internal-combustion engine and other lift trucks, as well as warehouse equipment such as pallet trucks, stackers and reach trucks.