Hyster-Yale (HY) closed at $33.54 in the latest trading session, marking a -4.34% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.22%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.66%.
Coming into today, shares of the maker of lift trucks and aftermarket parts had lost 3.5% in the past month. In that same time, the Industrial Products sector gained 10.67%, while the S&P 500 lost 1.21%.
Analysts and investors alike will be keeping a close eye on the performance of Hyster-Yale in its upcoming earnings disclosure. On that day, Hyster-Yale is projected to report earnings of -$2.05 per share, which would represent a year-over-year decline of 1364.29%. Alongside, our most recent consensus estimate is anticipating revenue of $804.62 million, indicating a 15.89% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$2.75 per share and a revenue of $3.53 billion, indicating changes of -53.63% and -6.32%, respectively, from the former 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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, there's been no change in the Zacks Consensus EPS estimate. Right now, Hyster-Yale possesses a Zacks Rank of #3 (Hold).
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Hyster-Yale, Inc. (HY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).