Hyster-Yale (HY) closed at $33.90 in the latest trading session, marking a -2.73% move from the prior day. This change lagged the S&P 500's 1.62% loss on the day. At the same time, the Dow lost 1.87%, and the tech-heavy Nasdaq lost 1.98%.
Prior to today's trading, shares of the maker of lift trucks and aftermarket parts had lost 4.31% lagged the Industrial Products sector's gain of 0.72% and the S&P 500's loss of 0.03%.
Investors will be eagerly watching for the performance of Hyster-Yale in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$2.05, marking a 1364.29% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $804.62 million, showing a 15.89% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.75 per share and revenue of $3.53 billion. These totals would mark changes of -53.63% and -6.32%, respectively, from last year.
Any recent changes to analyst estimates for Hyster-Yale should also be noted by investors. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpWant 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).