Yahoo Finance Hyster-Yale Materials (HY) Increases Despite Market Slip: Here's What You Need to Know
Hyster-Yale Materials (HY) closed the most recent trading day at $71.15, moving +0.69% from the previous trading session. This change outpaced the S&P 500's 0.31% loss on the day. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq decreased by 1.09%.
Shares of the maker of lift trucks and aftermarket parts witnessed a loss of 6.39% over the previous month, trailing the performance of the Industrial Products sector with its loss of 5.25% and the S&P 500's gain of 2.73%.
Market participants will be closely following the financial results of Hyster-Yale Materials in its upcoming release. In that report, analysts expect Hyster-Yale Materials to post earnings of $2.28 per share. This would mark year-over-year growth of 3.17%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.08 billion, indicating a 0.93% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.68 per share and revenue of $4.26 billion, indicating changes of +6.08% and +3.42%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hyster-Yale Materials. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Hyster-Yale Materials presently features a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Hyster-Yale Materials has a Forward P/E ratio of 9.21 right now. This represents a discount compared to its industry's average Forward P/E of 9.84.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 193, this industry ranks in the bottom 24% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Hyster-Yale, Inc. (HY) : Free Stock Analysis Report
