Hyster-Yale (HY) closed the latest trading day at $38.26, indicating a +0.68% change from the previous session's end. This change outpaced the S&P 500's 0.13% gain on the day. Elsewhere, the Dow saw a downswing of 1.33%, while the tech-heavy Nasdaq depreciated by 0.13%.
The the stock of maker of lift trucks and aftermarket parts has fallen by 17.98% in the past month, lagging the Industrial Products sector's loss of 10.03% and the S&P 500's loss of 6.3%.
The upcoming earnings release of Hyster-Yale will be of great interest to investors. The company is predicted to post an EPS of $0.47, indicating an 83.96% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $947.8 million, indicating a 10.29% downward movement from the same quarter last year.
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.
Investors should also note any recent changes to analyst estimates for Hyster-Yale. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Hyster-Yale currently has a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Hyster-Yale is currently being traded at a Forward P/E ratio of 18.58. This represents a premium compared to its industry's average Forward P/E of 14.96.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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