In the latest trading session, Hyster-Yale (HY) closed at $32.39, marking a -3.28% move from the previous day. This change lagged the S&P 500's daily loss of 0.08%. Meanwhile, the Dow experienced a drop of 0.61%, and the technology-dominated Nasdaq saw an increase of 0.08%.
Prior to today's trading, shares of the maker of lift trucks and aftermarket parts had lost 10.12% lagged the Industrial Products sector's loss of 6.04% and the S&P 500's loss of 2.16%.
The upcoming earnings release of Hyster-Yale will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$1.9, reflecting a 487.76% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $878.12 million, indicating a 3.55% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.95 per share and a revenue of $3.71 billion, indicating changes of -8.94% and -1.57%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Hyster-Yale. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 134.94% lower. Hyster-Yale is currently a Zacks Rank #5 (Strong Sell).
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 180, finds itself in the bottom 27% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in 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).