In the latest close session, Hyster-Yale (HY) was down 1.16% at $33.15. This change was narrower than the S&P 500's 1.21% loss on the day. Meanwhile, the Dow lost 0.97%, and the Nasdaq, a tech-heavy index, lost 2.15%.
The maker of lift trucks and aftermarket parts's shares have seen a decrease of 6.68% over the last month, not keeping up with the Industrial Products sector's loss of 4.11% and the S&P 500's gain of 0.42%.
Market participants will be closely following the financial results of Hyster-Yale in its upcoming release. In that report, analysts expect Hyster-Yale to post earnings of -$2.05 per share. This would mark a year-over-year decline of 1364.29%. Simultaneously, our latest consensus estimate expects the revenue to be $804.62 million, showing a 15.89% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$2.75 per share and a revenue of $3.53 billion, representing changes of -53.63% and -6.32%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Hyster-Yale. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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, 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 past month, there's been no change in the Zacks Consensus EPS estimate. Hyster-Yale is currently sporting a Zacks Rank of #3 (Hold).
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 178, positioning it in the bottom 28% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Hyster-Yale, Inc. (HY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).