The latest trading session saw Hyster-Yale (HY) ending at $52.60, denoting a +0.9% adjustment from its last day’s close. This change outpaced the S&P 500’s 0.67% gain on the day. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.98%.
Shares of the maker of lift trucks and aftermarket parts have appreciated by 4.66% over the course of the past month, outperforming the Industrial Products sector’s gain of 1.46% and the S&P 500’s gain of 2.07%.
Analysts and investors alike will be keeping a close eye on the performance of Hyster-Yale in its upcoming earnings disclosure. On that day, Hyster-Yale is projected to report earnings of $1.38 per share, which would represent a year-over-year decline of 3.5%. Alongside, our most recent consensus estimate is anticipating revenue of $1.02 billion, indicating a 0.48% downward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Hyster-Yale. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Hyster-Yale boasts a Zacks Rank of #3 (Hold).
Investors should also note Hyster-Yale’s current valuation metrics, including its Forward P/E ratio of 9.67. This indicates a discount in contrast to its industry’s Forward P/E of 11.5.
The Manufacturing – Construction and Mining industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 11% 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.
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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