Hyster-Yale Materials Handling (NYSE:HY) Issues Earnings Results, Misses Expectations By $1.00 EPS

Hyster-Yale Materials Handling (NYSE:HY) released its quarterly earnings results on Tuesday. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00), Zacks reports. Hyster-Yale Materials Handling had a return on equity of 44.49% and a net margin of 4.13%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company earned $2.06 EPS.

Hyster-Yale Materials Handling Trading Down 3.4 %

Shares of Hyster-Yale Materials Handling stock traded down $1.87 during mid-day trading on Friday, hitting $53.75. 24,977 shares of the stock were exchanged, compared to its average volume of 92,227. The stock has a market capitalization of $940.63 million, a price-to-earnings ratio of 5.56 and a beta of 1.32. The company has a current ratio of 1.31, a quick ratio of 0.63 and a debt-to-equity ratio of 0.53. The company has a 50-day simple moving average of $62.64 and a 200 day simple moving average of $66.77. Hyster-Yale Materials Handling has a twelve month low of $43.98 and a twelve month high of $84.44.

Hyster-Yale Materials Handling Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.60%. The ex-dividend date was Friday, August 30th. Hyster-Yale Materials Handling’s payout ratio is 14.00%.

Analyst Upgrades and Downgrades

HY has been the topic of several recent research reports. Roth Mkm decreased their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday. Northland Capmk cut shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Hyster-Yale Materials Handling currently has an average rating of “Moderate Buy” and an average target price of $80.00.

About Hyster-Yale Materials Handling

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.