Northland Capmk Has Negative Outlook of HY FY2024 Earnings

Hyster-Yale Materials Handling, Inc. (NYSE:HY) – Analysts at Northland Capmk decreased their FY2024 earnings estimates for Hyster-Yale Materials Handling in a research note issued to investors on Wednesday, November 6th. Northland Capmk analyst E. Jackson now forecasts that the industrial products company will earn $8.82 per share for the year, down from their previous estimate of $9.47. Northland Capmk 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.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday. Roth Mkm cut their price target on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hyster-Yale Materials Handling presently has an average rating of “Moderate Buy” and an average price target of $80.00.

Hyster-Yale Materials Handling Stock Down 0.8 %

Shares of HY stock opened at $55.62 on Friday. The firm has a fifty day moving average of $62.64 and a 200-day moving average of $66.77. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.53. Hyster-Yale Materials Handling has a 12-month low of $43.64 and a 12-month high of $84.44. The company has a market capitalization of $973.35 million, a price-to-earnings ratio of 5.56 and a beta of 1.32.

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

Hyster-Yale Materials Handling Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Friday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio is 14.00%.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

Several hedge funds have recently bought and sold shares of HY. CWM LLC increased its stake in shares of Hyster-Yale Materials Handling by 0.5% in the 2nd quarter. CWM LLC now owns 41,992 shares of the industrial products company’s stock valued at $2,928,000 after acquiring an additional 192 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Hyster-Yale Materials Handling by 4.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock worth $310,000 after acquiring an additional 200 shares in the last quarter. Summit Global Investments grew its stake in shares of Hyster-Yale Materials Handling by 2.4% in the 2nd quarter. Summit Global Investments now owns 10,334 shares of the industrial products company’s stock worth $721,000 after acquiring an additional 240 shares in the last quarter. Mcdonald Partners LLC boosted its holdings in shares of Hyster-Yale Materials Handling by 0.9% in the 2nd quarter. Mcdonald Partners LLC now owns 40,256 shares of the industrial products company’s stock worth $2,807,000 after buying an additional 352 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Hyster-Yale Materials Handling by 0.5% in the 2nd quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock worth $5,340,000 after buying an additional 363 shares during the last quarter. 46.47% of the stock is owned by 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.