In the latest market close, Hyster-Yale (HY) reached $37.93, with a +1.42% movement compared to the previous day. The stock lagged the S&P 500's daily gain of 2.51%. On the other hand, the Dow registered a gain of 2.66%, and the technology-centric Nasdaq increased by 2.71%.
Heading into today, shares of the maker of lift trucks and aftermarket parts had lost 17.24% over the past month, lagging the Industrial Products sector's loss of 11.41% and the S&P 500's loss of 8.86% in that time.
The investment community will be paying close attention to the earnings performance of Hyster-Yale in its upcoming release. It is anticipated that the company will report an EPS of $0.47, marking an 83.96% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $947.8 million, showing a 10.29% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.05 per share and revenue of $3.91 billion, indicating changes of -77.17% and -9.19%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hyster-Yale. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Hyster-Yale is holding a Zacks Rank of #5 (Strong Sell) right now.
Investors should also note Hyster-Yale's current valuation metrics, including its Forward P/E ratio of 18.29. This indicates a premium in contrast to its industry's Forward P/E of 14.78.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 34% of all 250+ industries.
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 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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