Hyster-Yale, Inc. (NYSE:HY) Increases Dividend to $0.37 Per Share

Hyster-Yale, Inc. (NYSE:HY) declared a quarterly dividend on Tuesday, May 12th. Stockholders of record on Monday, June 1st will be paid a dividend of 0.365 per share by the industrial products company on Tuesday, June 16th. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, June 1st. This is a 1.4% increase from Hyster-Yale’s previous quarterly dividend of $0.36.

Hyster-Yale has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 years. Hyster-Yale has a dividend payout ratio of 49.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hyster-Yale to earn $2.07 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 69.6%.

Hyster-Yale Price Performance

Shares of Hyster-Yale stock traded down $0.96 on Wednesday, reaching $35.46. 34,690 shares of the stock were exchanged, compared to its average volume of 92,934. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.67 and a current ratio of 1.31. The firm has a market cap of $634.75 million, a PE ratio of -6.34 and a beta of 1.66. The firm’s 50 day moving average is $35.14 and its 200-day moving average is $33.96. Hyster-Yale has a one year low of $26.41 and a one year high of $44.55.

Hyster-Yale (NYSE:HY) last announced its quarterly earnings data on Tuesday, May 5th. The industrial products company reported ($1.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.02) by $0.38. Hyster-Yale had a negative net margin of 2.71% and a negative return on equity of 13.96%. The business had revenue of $795.20 million for the quarter, compared to analysts’ expectations of $878.10 million. As a group, analysts anticipate that Hyster-Yale will post -2.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HY. Weiss Ratings downgraded shares of Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Northland Securities upgraded Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Monday, March 2nd. Wall Street Zen cut shares of Hyster-Yale from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, Zacks Research raised Hyster-Yale from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Hyster-Yale presently has a consensus rating of “Hold” and an average target price of $45.00.

Hyster-Yale Company Profile

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.