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Hyster-Yale (HY) Stock Falls Amid Market Uptick: What Investors Need to Know
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Hyster-Yale (HY - Free Report) closed at $36.06 in the latest trading session, marking a -1.8% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.37% for the day. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq appreciated by 0.71%.
Shares of the maker of lift trucks and aftermarket parts have depreciated by 2.6% over the course of the past month, underperforming the Industrial Products sector's gain of 3.99%, and the S&P 500's gain of 4.26%.
Investors will be eagerly watching for the performance of Hyster-Yale in its upcoming earnings disclosure. The company is expected to report EPS of $0.03, down 96.91% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $955.69 million, showing a 5.95% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $0.75 per share and a revenue of $3.77 billion, demonstrating changes of -91.65% and -12.59%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hyster-Yale. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Hyster-Yale is carrying a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Hyster-Yale is presently being traded at a Forward P/E ratio of 48.96. This indicates a premium in contrast to its industry's Forward P/E of 24.42.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 208, finds itself in the bottom 16% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Hyster-Yale (HY) Stock Falls Amid Market Uptick: What Investors Need to Know
Hyster-Yale (HY - Free Report) closed at $36.06 in the latest trading session, marking a -1.8% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.37% for the day. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq appreciated by 0.71%.
Shares of the maker of lift trucks and aftermarket parts have depreciated by 2.6% over the course of the past month, underperforming the Industrial Products sector's gain of 3.99%, and the S&P 500's gain of 4.26%.
Investors will be eagerly watching for the performance of Hyster-Yale in its upcoming earnings disclosure. The company is expected to report EPS of $0.03, down 96.91% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $955.69 million, showing a 5.95% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $0.75 per share and a revenue of $3.77 billion, demonstrating changes of -91.65% and -12.59%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hyster-Yale. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Hyster-Yale is carrying a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Hyster-Yale is presently being traded at a Forward P/E ratio of 48.96. This indicates a premium in contrast to its industry's Forward P/E of 24.42.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 208, finds itself in the bottom 16% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.