Hyster-Yale (HY) closed at $53.18 in the latest trading session, marking a -0.13% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.47%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.51%.
Shares of the maker of lift trucks and aftermarket parts witnessed a gain of 4.56% over the previous month, beating the performance of the Industrial Products sector with its gain of 3.36% and the S&P 500's gain of 1.67%.
The upcoming earnings release of Hyster-Yale will be of great interest to investors. The company is predicted to post an EPS of $1.38, indicating a 3.5% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.02 billion, indicating a 0.48% decrease compared to the same quarter of the previous year.
Investors might also notice recent changes 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Hyster-Yale holds a Zacks Rank of #3 (Hold).
Investors should also note Hyster-Yale's current valuation metrics, including its Forward P/E ratio of 9.88. Its industry sports an average Forward P/E of 11.46, 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 215, finds itself in the bottom 15% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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