Hyster-Yale (HY) Declines More Than Market: Some Information for Investors

Hyster-Yale (HY) closed the most recent trading day at $29.90, moving -3.45% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 1.36% for the day. Meanwhile, the Dow experienced a drop of 1.64%, and the technology-dominated Nasdaq saw a decrease of 1.46%.

Prior to today's trading, shares of the maker of lift trucks and aftermarket parts had lost 22.5% lagged the Industrial Products sector's loss of 8.71% and the S&P 500's loss of 1.76%.

Analysts and investors alike will be keeping a close eye on the performance of Hyster-Yale in its upcoming earnings disclosure. The company is expected to report EPS of -$1.9, down 487.76% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $878.12 million, down 3.55% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.95 per share and a revenue of $3.71 billion, indicating changes of -8.94% and -1.57%, respectively, from the former year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hyster-Yale. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 134.94% fall in the Zacks Consensus EPS estimate. Currently, Hyster-Yale is carrying a Zacks Rank of #5 (Strong Sell).

The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 179, placing it within the bottom 27% of over 250 industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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