In the latest trading session, Hyster-Yale (HY) closed at $31.87, marking a +2.91% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.77%. On the other hand, the Dow registered a loss of 0.67%, and the technology-centric Nasdaq decreased by 0.92%.
The stock of maker of lift trucks and aftermarket parts has fallen by 8.83% in the past month, lagging the Industrial Products sector's loss of 0.11% and the S&P 500's gain of 0.96%.
Analysts and investors alike will be keeping a close eye on the performance of Hyster-Yale in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.4, reflecting a 344.44% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 note any recent changes to analyst estimates for Hyster-Yale. These recent revisions tend to reflect the evolving nature of short-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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Hyster-Yale possesses a Zacks Rank of #3 (Hold).
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 106, placing it within the top 44% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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).