In the latest trading session, Hyster-Yale (HY) closed at $39.17, marking a +1.27% move from the previous day. This move outpaced the S&P 500's daily gain of 0.58%. Elsewhere, the Dow saw an upswing of 0.75%, while the tech-heavy Nasdaq appreciated by 0.55%.
Shares of the maker of lift trucks and aftermarket parts have depreciated by 6.88% over the course of the past month, underperforming the Industrial Products sector's loss of 3.25% and the S&P 500's loss of 0.84%.
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 $0.47 per share. This would mark a year-over-year decline of 83.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $947.8 million, down 10.29% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.05 per share and a revenue of $3.91 billion, representing changes of -77.17% and -9.19%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Hyster-Yale. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Hyster-Yale is currently a Zacks Rank #5 (Strong Sell).
Valuation is also important, so investors should note that Hyster-Yale has a Forward P/E ratio of 18.91 right now. Its industry sports an average Forward P/E of 16, so one might conclude that Hyster-Yale is trading at a premium comparatively.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 37, positioning it in the top 15% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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