In the latest close session, Hyster-Yale (HY) was up +1.21% at $30.07. This change outpaced the S&P 500's 0.19% gain on the day. Meanwhile, the Dow experienced a rise of 0.66%, and the technology-dominated Nasdaq saw a decrease of 0.03%.
The maker of lift trucks and aftermarket parts's shares have seen a decrease of 15.19% over the last month, not keeping up with the Industrial Products sector's gain of 0.2% and the S&P 500's gain of 0.54%.
The investment community will be paying close attention to the earnings performance of Hyster-Yale in its upcoming release. The company is forecasted to report an EPS of -$1.2, showcasing a 181.63% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $916.43 million, reflecting a 14.15% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.93 per share and revenue of $3.76 billion, indicating changes of -110.36% and 0%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Hyster-Yale. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Hyster-Yale boasts a Zacks Rank of #4 (Sell).
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 186, finds itself in the bottom 25% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in 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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