Here's Why Hyster-Yale (HY) Gained But Lagged the Market Today

Hyster-Yale (HY) closed at $37.69 in the latest trading session, marking a +0.69% move from the prior day. This change lagged the S&P 500's 1.81% gain on the day. Elsewhere, the Dow saw an upswing of 1.56%, while the tech-heavy Nasdaq appreciated by 2.06%.Heading into today, shares of the maker of lift trucks and aftermarket parts had lost 13.97% over the past month, lagging the Industrial Products sector's loss of 11.25% and the S&P 500's loss of 6.14% in that time.Market participants will be closely following the financial results of Hyster-Yale in its upcoming release. The company is predicted to post an EPS of $0.47, indicating an 83.96% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $947.8 million, indicating a 10.29% decline compared to the corresponding quarter of the prior year.For the full year, the Zacks Consensus Estimates project earnings of $2.05 per share and a revenue of $3.91 billion, demonstrating changes of -77.17% and -9.19%, respectively, from the preceding year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hyster-Yale. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Hyster-Yale presently features a Zacks Rank of #5 (Strong Sell).Looking at valuation, Hyster-Yale is presently trading at a Forward P/E ratio of 18.3. This expresses a premium compared to the average Forward P/E of 14.69 of its industry.The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 32, placing it within the top 13% of over 250 industries.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.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hyster-Yale, Inc. (HY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks