In This Article:
Hyster-Yale (HY) closed the latest trading day at $50.24, indicating a -1.35% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.22%. On the other hand, the Dow registered a loss of 0.36%, and the technology-centric Nasdaq decreased by 0.16%.
Coming into today, shares of the maker of lift trucks and aftermarket parts had lost 12.87% in the past month. In that same time, the Industrial Products sector lost 9.8%, while the S&P 500 lost 2.36%.
Market participants will be closely following the financial results of Hyster-Yale in its upcoming release. The company's upcoming EPS is projected at $1.38, signifying a 3.5% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.02 billion, down 0.48% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Hyster-Yale. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Hyster-Yale possesses a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Hyster-Yale is currently being traded at a Forward P/E ratio of 9.45. This signifies a discount in comparison to the average Forward P/E of 10.26 for its industry.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 231, this industry ranks in the bottom 8% of all industries, numbering over 250.
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.
To follow HY in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report