Hyster-Yale (HY) closed the most recent trading day at $37.26, moving +1.8% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.33%. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Coming into today, shares of the maker of lift trucks and aftermarket parts had gained 7.96% in the past month. In that same time, the Industrial Products sector gained 11.29%, while the S&P 500 gained 0%.
The investment community will be closely monitoring the performance of Hyster-Yale in its forthcoming earnings report. The company's upcoming EPS is projected at -$1.2, signifying a 181.63% drop compared to the same quarter of the previous 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.
For the full year, the Zacks Consensus Estimates project earnings of -$0.93 per share and a revenue of $3.76 billion, demonstrating changes of -110.36% and -12.67%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Hyster-Yale. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has remained steady. Currently, Hyster-Yale is carrying a Zacks Rank of #3 (Hold).
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 88, putting it in the top 36% of all 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.
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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