In the latest trading session, Hyster-Yale (HY) closed at $37.08, marking a +1.81% move from the previous day. This move outpaced the S&P 500's daily gain of 1.02%. On the other hand, the Dow registered a gain of 0.63%, and the technology-centric Nasdaq increased by 1.23%.
Coming into today, shares of the maker of lift trucks and aftermarket parts had gained 16.43% in the past month. In that same time, the Industrial Products sector gained 4.51%, while the S&P 500 gained 0.63%.
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 -$1.9 per share, which would represent a year-over-year decline of 487.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $878.12 million, down 3.55% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.95 per share and a revenue of $3.71 billion, signifying shifts of -8.94% and -1.57%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Hyster-Yale. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Hyster-Yale holds a Zacks Rank of #5 (Strong Sell).
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 179, this industry ranks in the bottom 27% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Hyster-Yale, Inc. (HY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).