Hyster-Yale (HY) closed at $36.97 in the latest trading session, marking a -0.19% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 5.98%. Elsewhere, the Dow lost 5.5%, while the tech-heavy Nasdaq lost 5.82%.
Shares of the maker of lift trucks and aftermarket parts have depreciated by 17.45% over the course of the past month, underperforming the Industrial Products sector's loss of 7.54% and the S&P 500's loss of 7.66%.
The upcoming earnings release of Hyster-Yale will be of great interest to investors. The company is expected to report EPS of $0.47, down 83.96% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $947.8 million, down 10.29% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.05 per share and a revenue of $3.91 billion, representing changes of -77.17% and -9.19%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Hyster-Yale. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Hyster-Yale currently has a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Hyster-Yale is at present trading with a Forward P/E ratio of 18.11. This represents a premium compared to its industry's average Forward P/E of 15.54.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 57, this industry ranks in the top 23% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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