Hyster-Yale (HY) closed the most recent trading day at $39.96, moving +1.24% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.1%. Meanwhile, the Dow experienced a rise of 0.07%, and the technology-dominated Nasdaq saw an increase of 0.14%.
Coming into today, shares of the maker of lift trucks and aftermarket parts had gained 16.64% in the past month. In that same time, the Industrial Products sector gained 9.49%, while the S&P 500 lost 1.43%.
The upcoming earnings release of Hyster-Yale will be of great interest to investors. 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.
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 -12.67%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Hyster-Yale. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Hyster-Yale is currently sporting 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 90, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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