Hyster-Yale (HY) Stock Moves -1.31%: What You Should Know

Hyster-Yale (HY) closed the most recent trading day at $33.12, moving -1.31% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 1.74% for the day. Meanwhile, the Dow experienced a drop of 1.01%, and the technology-dominated Nasdaq saw a decrease of 2.38%.

Shares of the maker of lift trucks and aftermarket parts have depreciated by 12.1% over the course of the past month, underperforming the Industrial Products sector's loss of 7.25%, and the S&P 500's loss of 4.99%.

Investors will be eagerly watching for the performance of Hyster-Yale in its upcoming earnings disclosure. In that report, analysts expect Hyster-Yale to post earnings of -$1.9 per share. This would mark a year-over-year decline of 487.76%. Meanwhile, the latest consensus estimate predicts the revenue to be $878.12 million, indicating a 3.55% decrease compared to the same quarter of the previous year.

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.

It is also important to note the recent changes to analyst estimates for Hyster-Yale. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 134.94% lower. As of now, Hyster-Yale holds 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 180, this industry ranks in the bottom 27% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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

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