Hyster-Yale (HY) ended the recent trading session at $37.72, demonstrating a +1.37% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.79%. Meanwhile, the Dow experienced a rise of 1.01%, and the technology-dominated Nasdaq saw an increase of 1.15%.
Coming into today, shares of the maker of lift trucks and aftermarket parts had gained 3.05% in the past month. In that same time, the Industrial Products sector gained 2.29%, while the S&P 500 gained 1.27%.
The investment community will be paying close attention to the earnings performance of Hyster-Yale in its upcoming release. On that day, Hyster-Yale is projected to report earnings of $0.03 per share, which would represent a year-over-year decline of 96.91%. 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.75 per share and revenue of $3.77 billion. These totals would mark changes of -91.65% and -12.59%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Hyster-Yale. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Hyster-Yale possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Hyster-Yale is currently being traded at a Forward P/E ratio of 49.61. This denotes a premium relative to the industry average Forward P/E of 16.37.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 201, this industry ranks in the bottom 19% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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