Hyster-Yale (HY) closed at $32.37 in the latest trading session, marking a -4.34% move from the prior day. This move lagged the S&P 500's daily loss of 2.06%. Elsewhere, the Dow lost 1.76%, while the tech-heavy Nasdaq lost 2.39%.
Coming into today, shares of the maker of lift trucks and aftermarket parts had gained 9.48% in the past month. In that same time, the Industrial Products sector gained 8.4%, while the S&P 500 gained 1.63%.
The upcoming earnings release of Hyster-Yale will be of great interest to investors. In that report, analysts expect Hyster-Yale to post earnings of -$1.2 per share. This would mark a year-over-year decline of 181.63%. Meanwhile, our latest consensus estimate is calling for revenue of $916.43 million, down 14.15% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.93 per share and revenue of $3.76 billion, which would represent changes of -110.36% and 0%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Hyster-Yale. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Hyster-Yale boasts a Zacks Rank of #3 (Hold).
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 102, finds itself in the top 42% 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.
To follow HY in the coming trading sessions, be sure to utilize 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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