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Here's Why Hyster-Yale (HY) Fell More Than Broader Market
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Hyster-Yale (HY - Free Report) closed the latest trading day at $66.63, indicating a -1.6% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.18%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq gained 0.27%.
The maker of lift trucks and aftermarket parts's stock has climbed by 9.56% in the past month, exceeding the Industrial Products sector's gain of 5.13% and the S&P 500's gain of 4.46%.
The investment community will be paying close attention to the earnings performance of Hyster-Yale in its upcoming release. In that report, analysts expect Hyster-Yale to post earnings of $1.97 per share. This would mark a year-over-year decline of 4.37%. At the same time, our most recent consensus estimate is projecting a revenue of $1.06 billion, reflecting a 5.51% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9.69 per share and a revenue of $4.37 billion, representing changes of +33.84% and +6.05%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Hyster-Yale. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Hyster-Yale presently features a Zacks Rank of #2 (Buy).
With respect to valuation, Hyster-Yale is currently being traded at a Forward P/E ratio of 6.99. For comparison, its industry has an average Forward P/E of 10.06, which means Hyster-Yale is trading at a discount to the group.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Here's Why Hyster-Yale (HY) Fell More Than Broader Market
Hyster-Yale (HY - Free Report) closed the latest trading day at $66.63, indicating a -1.6% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.18%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq gained 0.27%.
The maker of lift trucks and aftermarket parts's stock has climbed by 9.56% in the past month, exceeding the Industrial Products sector's gain of 5.13% and the S&P 500's gain of 4.46%.
The investment community will be paying close attention to the earnings performance of Hyster-Yale in its upcoming release. In that report, analysts expect Hyster-Yale to post earnings of $1.97 per share. This would mark a year-over-year decline of 4.37%. At the same time, our most recent consensus estimate is projecting a revenue of $1.06 billion, reflecting a 5.51% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9.69 per share and a revenue of $4.37 billion, representing changes of +33.84% and +6.05%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Hyster-Yale. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Hyster-Yale presently features a Zacks Rank of #2 (Buy).
With respect to valuation, Hyster-Yale is currently being traded at a Forward P/E ratio of 6.99. For comparison, its industry has an average Forward P/E of 10.06, which means Hyster-Yale is trading at a discount to the group.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 33% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.