In the latest trading session, Hyster-Yale (HY) closed at $29.80, marking a +2.97% move from the previous day. This change outpaced the S&P 500's 0.58% gain on the day. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.05%.
The maker of lift trucks and aftermarket parts's stock has dropped by 12.83% in the past month, falling short of the Industrial Products sector's loss of 2.94% and the S&P 500's gain of 0.97%.
Market participants will be closely following the financial results of Hyster-Yale in its upcoming release. The company's upcoming EPS is projected at -$0.4, signifying a 344.44% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $926.45 million, indicating a 5.38% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$2.91 per share and a revenue of $3.49 billion, representing changes of -62.57% and -7.42%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Hyster-Yale. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Hyster-Yale is carrying a Zacks Rank of #3 (Hold).
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 19% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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).