Hyster-Yale (HY) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest market close, Hyster-Yale (HY) reached $57.82, with a -0.45% movement compared to the previous day. This move lagged the S&P 500's daily gain of 1.07%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq gained 2.17%.
Coming into today, shares of the maker of lift trucks and aftermarket parts had lost 2.44% in the past month. In that same time, the Industrial Products sector gained 0.75%, while the S&P 500 gained 2.92%.
Investors will be eagerly watching for the performance of Hyster-Yale in its upcoming earnings disclosure. On that day, Hyster-Yale is projected to report earnings of $1.97 per share, which would represent a year-over-year decline of 4.37%. Alongside, our most recent consensus estimate is anticipating revenue of $1.06 billion, indicating a 5.51% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.69 per share and revenue of $4.37 billion, which would represent changes of +33.84% and +6.05%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Hyster-Yale. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 a 6.72% increase. Hyster-Yale is currently a Zacks Rank #3 (Hold).
Investors should also note Hyster-Yale's current valuation metrics, including its Forward P/E ratio of 5.99. Its industry sports an average Forward P/E of 9.79, so one might conclude that Hyster-Yale is trading at a discount comparatively.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 219, finds itself in the bottom 14% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Hyster-Yale, Inc. (HY) : Free Stock Analysis Report