The latest trading session saw Hyster-Yale (HY – Free Report) ending at $50.22, denoting a +0.1% adjustment from its last day’s close. The stock fell short of the S&P 500, which registered a gain of 0.16% for the day. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq lost 0.06%.
Shares of the maker of lift trucks and aftermarket parts witnessed a loss of 9.11% over the previous month, trailing the performance of the Industrial Products sector with its loss of 8.56% and the S&P 500’s loss of 2.8%.
Investors will be eagerly watching for the performance of Hyster-Yale in its upcoming earnings disclosure. The company’s earnings per share (EPS) are projected to be $1.38, reflecting a 3.5% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.02 billion, showing a 0.48% drop compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Hyster-Yale. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team 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 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 witnessed an unchanged state. As of now, Hyster-Yale holds a Zacks Rank of #3 (Hold).
In the context of valuation, Hyster-Yale is at present trading with a Forward P/E ratio of 9.31. This represents a discount compared to its industry’s average Forward P/E of 9.79.
The Manufacturing – Construction and Mining industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 214, finds itself in the bottom 15% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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