In the latest trading session, Hyster-Yale (HY) closed at $31.67, marking a -4.18% move from the previous day. This move lagged the S&P 500’s daily loss of 0.45%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 1.16%.
The stock of maker of lift trucks and aftermarket parts has fallen by 5.73% in the past month, lagging the Industrial Products sector’s gain of 4.88% and the S&P 500’s gain of 2.14%.
The investment community will be paying close attention to the earnings performance of Hyster-Yale in its upcoming release. The company is predicted to post an EPS of -$2.05, indicating a 1364.29% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $804.62 million, down 15.89% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.75 per share and revenue of $3.53 billion. These totals would mark changes of -53.63% and -6.32%, respectively, from last year.
Any recent changes to analyst estimates for Hyster-Yale should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Hyster-Yale is holding a Zacks Rank of #3 (Hold) right now.
The Manufacturing – Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 110, this industry ranks in the top 45% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Hyster-Yale, Inc. (HY) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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