Hyster-Yale (HY) ended the recent trading session at $40.24, demonstrating a +1.33% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.8%. Elsewhere, the Dow saw a downswing of 0.16%, while the tech-heavy Nasdaq appreciated by 1.63%.
Shares of the maker of lift trucks and aftermarket parts witnessed a gain of 19.9% over the previous month, beating the performance of the Industrial Products sector with its gain of 8.61%, and the S&P 500's gain of 8.11%.
The investment community will be paying close attention to the earnings performance of Hyster-Yale in its upcoming release. In that report, analysts expect Hyster-Yale to post earnings of -$1.9 per share. This would mark a year-over-year decline of 487.76%. At the same time, our most recent consensus estimate is projecting a revenue of $878.12 million, reflecting a 3.55% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.95 per share and revenue of $3.71 billion, indicating changes of -8.94% and -1.57%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Hyster-Yale should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Hyster-Yale currently has a Zacks Rank of #5 (Strong Sell).
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 40% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Hyster-Yale, Inc. (HY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).