In the latest close session, Hyster-Yale (HY) was down 2.27% at $34.88. This move lagged the S&P 500's daily loss of 0.48%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 0.64%.
The maker of lift trucks and aftermarket parts's shares have seen an increase of 3.42% over the last month, surpassing the Industrial Products sector's loss of 4.15% and the S&P 500's loss of 0.97%.
The upcoming earnings release of Hyster-Yale will be of great interest to investors. The company is predicted to post an EPS of -$0.4, indicating a 344.44% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $926.45 million, down 5.38% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$2.91 per share and a revenue of $3.49 billion, indicating changes of -62.57% and -7.42%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Hyster-Yale. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 has remained steady. 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 74, putting it in the top 31% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Hyster-Yale, Inc. (HY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).