Hyster-Yale (HY) closed at $33.45 in the latest trading session, marking a +1.7% move from the prior day. This move outpaced the S&P 500's daily loss of 0.43%. Elsewhere, the Dow lost 0.37%, while the tech-heavy Nasdaq lost 0.94%.
The maker of lift trucks and aftermarket parts's shares have seen an increase of 10.7% over the last month, surpassing the Industrial Products sector's gain of 8.66% and the S&P 500's gain of 0.89%.
The investment community will be closely monitoring the performance of Hyster-Yale in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$1.2, reflecting a 181.63% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $916.43 million, down 14.15% from the year-ago period.
HY's full-year Zacks Consensus Estimates are calling for earnings of -$0.93 per share and revenue of $3.76 billion. These results would represent year-over-year changes of -110.36% and 0%, respectively.
Investors might also notice recent changes to analyst estimates for Hyster-Yale. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Hyster-Yale is currently a Zacks Rank #3 (Hold).
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 40% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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