Hyster-Yale (HY) closed the most recent trading day at $33.72, moving +1.38% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.51%. Elsewhere, the Dow saw a downswing of 0.2%, while the tech-heavy Nasdaq depreciated by 1.47%.
Prior to today's trading, shares of the maker of lift trucks and aftermarket parts had lost 10.95% lagged the Industrial Products sector's loss of 0.95% and the S&P 500's gain of 0.53%.
Market participants will be closely following the financial results of Hyster-Yale in its upcoming release. The company is expected to report EPS of -$2.05, down 1364.29% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $804.62 million, indicating a 15.89% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.75 per share and a revenue of $3.53 billion, signifying shifts of -53.63% and -6.32%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Hyster-Yale. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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. This group has a Zacks Industry Rank of 182, putting it in the bottom 27% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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 Report
This article originally published on Zacks Investment Research (zacks.com).