Northland Capmk Has Negative Outlook of HY FY2024 Earnings

Hyster-Yale Materials Handling, Inc. (NYSE:HY) – Equities researchers at Northland Capmk cut 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 expects that the industrial products company will earn $8.82 per share 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) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $2.06 earnings per share.

Several other equities analysts also recently weighed in on HY. StockNews.com downgraded Hyster-Yale Materials Handling from a “buy” rating to a “hold” rating in a report on Wednesday. Roth Mkm lowered their price target on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Hyster-Yale Materials Handling has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Stock Performance

NYSE:HY opened at $55.62 on Friday. The business has a 50 day moving average price of $62.64 and a 200-day moving average price of $66.77. Hyster-Yale Materials Handling has a fifty-two week low of $43.64 and a fifty-two week high of $84.44. The firm has a market cap of $973.35 million, a PE ratio of 5.56 and a beta of 1.32. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 1.31.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HY. EntryPoint Capital LLC purchased a new stake in Hyster-Yale Materials Handling during the 1st quarter worth about $27,000. Covestor Ltd lifted its position in Hyster-Yale Materials Handling by 21,350.0% during the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 427 shares during the period. Quest Partners LLC lifted its position in Hyster-Yale Materials Handling by 6,692.3% during the 2nd quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 870 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Hyster-Yale Materials Handling during the 2nd quarter worth approximately $67,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in Hyster-Yale Materials Handling by 67.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock valued at $83,000 after buying an additional 548 shares during the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Dividend Announcement

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

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.