Hyster-Yale (HY) ended the recent trading session at $32.60, demonstrating a -2.8% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 1.49%. Meanwhile, the Dow experienced a rise of 0.71%, and the technology-dominated Nasdaq saw an increase of 2.26%.
Heading into today, shares of the maker of lift trucks and aftermarket parts had lost 3.37% over the past month, lagging the Industrial Products sector's loss of 3.14% and the S&P 500's gain of 0.1%.
The investment community will be closely monitoring the performance of Hyster-Yale in its forthcoming earnings report. The company is expected to report EPS of -$0.4, down 344.44% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $926.45 million, indicating a 5.38% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$2.91 per share and revenue of $3.49 billion, which would represent changes of -62.57% and -7.42%, respectively, from the prior year.
Any recent changes to analyst estimates for Hyster-Yale should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 currently a Zacks Rank #3 (Hold).
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 24% 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.
To follow HY in the coming trading sessions, be sure to utilize Zacks.com.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Hyster-Yale, Inc. (HY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).