Hyster-Yale Materials Handling, Inc. to Post Q2 2024 Earnings of $2.28 Per Share, Roth Capital Forecasts (NYSE:HY)

Hyster-Yale Materials Handling, Inc. (NYSE:HYFree Report) – Investment analysts at Roth Capital lifted their Q2 2024 EPS estimates for Hyster-Yale Materials Handling in a research note issued to investors on Thursday, May 9th. Roth Capital analyst C. Moore now expects that the industrial products company will post earnings of $2.28 per share for the quarter, up from their previous estimate of $2.21. The consensus estimate for Hyster-Yale Materials Handling’s current full-year earnings is $7.06 per share. Roth Capital also issued estimates for Hyster-Yale Materials Handling’s Q3 2024 earnings at $1.51 EPS, Q4 2024 earnings at $1.62 EPS, Q1 2025 earnings at $1.99 EPS, Q2 2025 earnings at $2.41 EPS, Q3 2025 earnings at $2.12 EPS and Q4 2025 earnings at $2.08 EPS.

Several other equities analysts have also recently issued reports on the stock. TheStreet cut shares of Hyster-Yale Materials Handling from a “b-” rating to a “c” rating in a research note on Monday, March 4th. Roth Mkm reiterated a “buy” rating and set a $87.00 price objective (up previously from $85.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday. Finally, StockNews.com cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th.

Check Out Our Latest Report on Hyster-Yale Materials Handling

Hyster-Yale Materials Handling Trading Up 8.5 %

Shares of HY stock opened at $79.11 on Friday. The stock has a 50-day simple moving average of $61.03 and a 200 day simple moving average of $58.61. The stock has a market capitalization of $1.38 billion, a P/E ratio of 10.91 and a beta of 1.49. Hyster-Yale Materials Handling has a fifty-two week low of $38.50 and a fifty-two week high of $79.66. The company has a quick ratio of 0.55, a current ratio of 1.22 and a debt-to-equity ratio of 0.62.

Hyster-Yale Materials Handling (NYSE:HYGet Free Report) last released its earnings results on Tuesday, February 27th. The industrial products company reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.03). Hyster-Yale Materials Handling had a return on equity of 40.35% and a net margin of 3.06%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion.

Hyster-Yale Materials Handling Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.35 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.33. Hyster-Yale Materials Handling’s dividend payout ratio is presently 17.93%.

Insider Activity

In other Hyster-Yale Materials Handling news, insider Frank F. Taplin sold 5,000 shares of Hyster-Yale Materials Handling stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.65, for a total transaction of $293,250.00. Following the transaction, the insider now owns 378,872 shares of the company’s stock, valued at approximately $22,220,842.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Frank F. Taplin sold 11,720 shares of Hyster-Yale Materials Handling stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $58.10, for a total transaction of $680,932.00. Following the completion of the sale, the insider now directly owns 367,152 shares in the company, valued at approximately $21,331,531.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Frank F. Taplin sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.65, for a total value of $293,250.00. Following the completion of the sale, the insider now directly owns 378,872 shares of the company’s stock, valued at approximately $22,220,842.80. The disclosure for this sale can be found here. 33.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HY. Cornercap Investment Counsel Inc. boosted its stake in shares of Hyster-Yale Materials Handling by 0.8% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 21,398 shares of the industrial products company’s stock worth $1,331,000 after acquiring an additional 163 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Hyster-Yale Materials Handling by 5.1% during the first quarter. Janney Montgomery Scott LLC now owns 8,070 shares of the industrial products company’s stock worth $518,000 after purchasing an additional 395 shares during the period. Gladius Capital Management LP acquired a new position in Hyster-Yale Materials Handling during the fourth quarter valued at approximately $40,000. Quadrature Capital Ltd raised its position in shares of Hyster-Yale Materials Handling by 4.4% in the fourth quarter. Quadrature Capital Ltd now owns 17,911 shares of the industrial products company’s stock valued at $1,114,000 after purchasing an additional 755 shares during the period. Finally, New York State Teachers Retirement System acquired a new stake in shares of Hyster-Yale Materials Handling in the fourth quarter worth $61,000. Institutional investors own 46.47% of the company’s stock.

About Hyster-Yale Materials Handling

(Get Free Report)

Hyster-Yale Materials Handling, 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.

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Earnings History and Estimates for Hyster-Yale Materials Handling (NYSE:HY)

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