Northland Capmk Has Negative Forecast for HY FY2024 Earnings

Hyster-Yale Materials Handling, Inc. (NYSE:HY - Free Report) - Stock analysts at Northland Capmk reduced their FY2024 earnings estimates for Hyster-Yale Materials Handling in a research note issued on Wednesday, November 6th. Northland Capmk analyst E. Jackson now expects that the industrial products company will post earnings per share of $8.82 for the year, down from their previous estimate of $9.47. Northland Capmk currently has a "Hold" rating on the stock. The consensus estimate for Hyster-Yale Materials Handling's current full-year earnings is $9.69 per share. Northland Capmk also issued estimates for Hyster-Yale Materials Handling's Q4 2024 earnings at $1.36 EPS, Q1 2025 earnings at $1.67 EPS, FY2025 earnings at $5.46 EPS, FY2026 earnings at $5.94 EPS and FY2027 earnings at $6.38 EPS.

Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($1.00). The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.06 billion. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. During the same period last year, the firm posted $2.06 earnings per share.

Several other research analysts have also issued reports on HY. StockNews.com lowered Hyster-Yale Materials Handling from a "buy" rating to a "hold" rating in a research report on Wednesday. Roth Mkm decreased their price objective on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $80.00.

Hyster-Yale Materials Handling Trading Down 3.8 %

Shares of NYSE HY traded down $2.13 during midday trading on Friday, hitting $53.49. 92,366 shares of the company traded hands, compared to its average volume of 92,551. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 1.31. Hyster-Yale Materials Handling has a 12-month low of $43.98 and a 12-month high of $84.44. The stock has a 50-day moving average price of $62.64 and a 200 day moving average price of $66.77. The firm has a market cap of $936.08 million, a P/E ratio of 5.56 and a beta of 1.32.

Hyster-Yale Materials Handling Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.40 annualized dividend and a dividend yield of 2.62%. Hyster-Yale Materials Handling's payout ratio is presently 14.00%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in Hyster-Yale Materials Handling by 296.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,397 shares of the industrial products company's stock valued at $1,566,000 after acquiring an additional 18,247 shares in the last quarter. Swedbank AB purchased a new stake in shares of Hyster-Yale Materials Handling during the first quarter valued at $5,519,000. Acadian Asset Management LLC increased its holdings in Hyster-Yale Materials Handling by 77.2% in the 1st quarter. Acadian Asset Management LLC now owns 134,959 shares of the industrial products company's stock worth $8,656,000 after buying an additional 58,814 shares in the last quarter. Sei Investments Co. raised its position in Hyster-Yale Materials Handling by 24.8% in the 2nd quarter. Sei Investments Co. now owns 44,166 shares of the industrial products company's stock worth $3,080,000 after buying an additional 8,764 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in Hyster-Yale Materials Handling by 86.8% during the 3rd quarter. Inspire Investing LLC now owns 20,299 shares of the industrial products company's stock valued at $1,294,000 after acquiring an additional 9,432 shares during the period. 46.47% of the stock is owned by hedge funds and other institutional investors.

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.