Hyster-Yale (HY) Suffers a Larger Drop Than the General Market: Key Insights

In the latest trading session, Hyster-Yale (HY) closed at $29.10, marking a -2.68% move from the previous day. This move lagged the S&P 500's daily loss of 1.51%. Meanwhile, the Dow experienced a drop of 0.97%, and the technology-dominated Nasdaq saw a decrease of 2.01%.

Coming into today, shares of the maker of lift trucks and aftermarket parts had lost 23.06% in the past month. In that same time, the Industrial Products sector lost 10.88%, while the S&P 500 lost 3.63%.

Investors will be eagerly watching for the performance of Hyster-Yale in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$1.9, signifying a 487.76% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $878.12 million, down 3.55% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.95 per share and revenue of $3.71 billion, which would represent changes of -8.94% and -1.57%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Hyster-Yale. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 134.94% lower. Hyster-Yale currently has a Zacks Rank of #5 (Strong Sell).

The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 179, this industry ranks in the bottom 27% of all industries, numbering over 250.

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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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Hyster-Yale, Inc. (HY): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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