Hyster-Yale (HY) ended the recent trading session at $36.63, demonstrating a -3.53% change from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.49%. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.72%.
The maker of lift trucks and aftermarket parts's stock has climbed by 2.82% in the past month, exceeding the Industrial Products sector's gain of 2.58% and lagging the S&P 500's gain of 2.99%.
The investment community will be paying close attention to the earnings performance of Hyster-Yale in its upcoming release. The company is predicted to post an EPS of $0.03, indicating a 96.91% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $955.69 million, indicating a 5.95% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.75 per share and a revenue of $3.77 billion, demonstrating changes of -91.65% and -12.59%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Hyster-Yale. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Hyster-Yale presently features a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Hyster-Yale is currently trading at a Forward P/E ratio of 50.63. This indicates a premium in contrast to its industry's Forward P/E of 23.72.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 227, which puts it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Hyster-Yale, Inc. (HY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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