Zacks: Brokerages Expect Hyster-Yale Materials Handling, Inc. (NYSE:HY) Will Announce Quarterly Sales of $673.25 Million
Equities analysts predict that Hyster-Yale Materials Handling, Inc. (NYSE:HY) will report $673.25 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Hyster-Yale Materials Handling’s earnings, with estimates ranging from $666.20 million to $680.30 million. Hyster-Yale Materials Handling posted sales of $645.60 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.3%. The company is scheduled to announce its next earnings report on Monday, August 14th.
According to Zacks, analysts expect that Hyster-Yale Materials Handling will report full year sales of $673.25 million for the current year, with estimates ranging from $2.76 billion to $2.86 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.01 billion per share, with estimates ranging from $2.83 billion to $3.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Hyster-Yale Materials Handling.
Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings results on Tuesday, May 2nd. The industrial products company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.50. Hyster-Yale Materials Handling had a net margin of 1.90% and a return on equity of 10.53%. The business had revenue of $713.10 million during the quarter, compared to analysts’ expectations of $668.33 million. During the same quarter in the prior year, the company posted $0.61 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis.
A number of research firms have recently weighed in on HY. Sidoti lowered shares of Hyster-Yale Materials Handling from a “buy” rating to a “neutral” rating and set a $82.00 price objective for the company. in a research report on Wednesday, June 7th. TheStreet raised shares of Hyster-Yale Materials Handling from a “c+” rating to a “b-” rating in a research report on Friday, May 12th. Zacks Investment Research lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub lowered shares of Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, Robert W. Baird raised shares of Hyster-Yale Materials Handling from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $62.00 to $84.00 in a research report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $74.75.
Hyster-Yale Materials Handling (HY) traded up 0.17% during mid-day trading on Friday, hitting $71.73. 18,399 shares of the stock traded hands. Hyster-Yale Materials Handling has a 12-month low of $47.25 and a 12-month high of $76.50. The firm’s 50-day moving average is $73.71 and its 200-day moving average is $64.42. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 23.13 and a beta of 1.05.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were given a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, May 30th. This is a positive change from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.30. Hyster-Yale Materials Handling’s payout ratio is currently 39.03%.
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In related news, insider Cory Freyer sold 3,128 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $74.81, for a total value of $234,005.68. Following the completion of the sale, the insider now directly owns 8,000 shares in the company, valued at $598,480. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Frank F. Taplin sold 1,400 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $73.93, for a total transaction of $103,502.00. The disclosure for this sale can be found here. Insiders own 26.34% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in Hyster-Yale Materials Handling during the fourth quarter worth about $2,154,000. State Street Corp increased its stake in Hyster-Yale Materials Handling by 2.5% in the fourth quarter. State Street Corp now owns 179,459 shares of the industrial products company’s stock worth $11,443,000 after buying an additional 4,408 shares during the last quarter. Norges Bank bought a new stake in Hyster-Yale Materials Handling during the fourth quarter worth about $9,101,000. Teachers Advisors LLC increased its stake in Hyster-Yale Materials Handling by 3.6% in the fourth quarter. Teachers Advisors LLC now owns 15,061 shares of the industrial products company’s stock worth $960,000 after buying an additional 526 shares during the last quarter. Finally, Foundry Partners LLC increased its stake in Hyster-Yale Materials Handling by 16.9% in the first quarter. Foundry Partners LLC now owns 101,671 shares of the industrial products company’s stock worth $5,733,000 after buying an additional 14,664 shares during the last quarter. Hedge funds and other institutional investors own 67.96% of the company’s stock.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc is a lift truck manufacturer. The Company designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships.
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