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Hyster-Yale Materials Handling Down 15.17% To $59.46 After Earnings

Wednesday, February 28, 2024 02:50 PM | InvestorsObserver Analysts

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Hyster-Yale Materials Handling Down 15.17% To $59.46 After Earnings

Hyster-Yale Materials Handling (HY) said after close Tuesday that it earned $1.43 per share in quarter four 2023. The company reported $1 billion in revenue

In the same quarter a year ago, the company earned $0.44 per share on revenue of $985.2 million.

The stock is down 15.17% to $59.46 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Hyster-Yale Materials Handling a Bullish Sentiment Rank from InvestorsObserver.

Hyster-Yale Materials Handling has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 93, putting Hyster-Yale Materials Handling in the top 25% of stocks. The firm was recently trading at a 52-week high of $72.4 on February 12, 2024 and set a 52-week low on February 28, 2023 at $34.

Hyster-Yale Materials Handling Inc designs, engineers, manufactures, sells, and services a line of lift trucks and aftermarket parts. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks and the products are market under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships. The company operates through three geographical regions namely: the Americas, EMEA, JAPIC, of which Americas region accounts for the larger share of the revenue.

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