Hyster-Yale (HY) closed the most recent trading day at $42.27, moving +2.2% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.48%. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq gained 0.94%.
The stock of maker of lift trucks and aftermarket parts has risen by 0.07% in the past month, lagging the Industrial Products sector's gain of 6.87% and the S&P 500's gain of 5.13%.
The investment community will be paying close attention to the earnings performance of Hyster-Yale in its upcoming release. The company's upcoming EPS is projected at $0.07, signifying a 98.04% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $936.9 million, down 19.79% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.36 per share and revenue of $3.69 billion, indicating changes of -84.86% and -14.29%, respectively, compared to the previous 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. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Hyster-Yale is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Hyster-Yale currently has a Forward P/E ratio of 30.41. This signifies a premium in comparison to the average Forward P/E of 16.43 for its industry.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 208, this industry ranks in the bottom 16% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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