In the latest trading session, Hyster-Yale (HY) closed at $33.00, marking a -2.14% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 1.01% for the day. Meanwhile, the Dow experienced a drop of 0.77%, and the technology-dominated Nasdaq saw a decrease of 1.4%.
Heading into today, shares of the maker of lift trucks and aftermarket parts had lost 14.2% over the past month, lagging the Industrial Products sector's loss of 2.07% and the S&P 500's gain of 0.32%.
Analysts and investors alike will be keeping a close eye on the performance of Hyster-Yale in its upcoming earnings disclosure. The company is predicted to post an EPS of -$2.05, indicating a 1364.29% decline compared to the equivalent quarter last 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.
Investors should also note any recent changes to analyst estimates for Hyster-Yale. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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 183, putting it in the bottom 26% 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.
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).