Hyster-Yale (HY) Rises As Market Takes a Dip: Key Facts
In the latest market close, Hyster-Yale (HY) reached $69.73, with a +0.75% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 0.71%.
Shares of the maker of lift trucks and aftermarket parts have depreciated by 6.16% over the course of the past month, underperforming the Industrial Products sector's loss of 4.53% and the S&P 500's gain of 3.53%.
The investment community will be closely monitoring the performance of Hyster-Yale in its forthcoming earnings report. On that day, Hyster-Yale is projected to report earnings of $2.28 per share, which would represent year-over-year growth of 3.17%. At the same time, our most recent consensus estimate is projecting a revenue of $1.08 billion, reflecting a 0.93% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.30 per share and a revenue of $4.26 billion, signifying shifts of +14.64% and +3.42%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Hyster-Yale. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Hyster-Yale is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Hyster-Yale is holding a Forward P/E ratio of 8.34. This expresses a discount compared to the average Forward P/E of 9.49 of its industry.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 224, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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
