Hyster-Yale (HY) ended the recent trading session at $40.12, demonstrating a +2.48% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.8%. Meanwhile, the Dow experienced a rise of 0.94%, and the technology-dominated Nasdaq saw an increase of 0.97%.
The maker of lift trucks and aftermarket parts's shares have seen a decrease of 3.43% over the last month, not keeping up with the Industrial Products sector's gain of 4.07% and the S&P 500's gain of 5.12%.
Analysts and investors alike will be keeping a close eye on the performance of Hyster-Yale in its upcoming earnings disclosure. The company is expected to report EPS of $0.07, down 98.04% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $936.9 million, showing a 19.79% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.36 per share and revenue of $3.69 billion, which would represent changes of -84.86% and -14.29%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Hyster-Yale. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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, there's been no change in the Zacks Consensus EPS estimate. Hyster-Yale presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Hyster-Yale is holding a Forward P/E ratio of 28.79. This denotes a premium relative to the industry average Forward P/E of 15.39.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 195, placing it within the bottom 21% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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