Hyster-Yale Materials Handling I (NYSE: HY) has reported earnings for its second fiscal quarter (ending June 30) of $3.62 versus $2.23 for the same period a year ago — an increase of 62%. This result exceeded the consensus estimate of $2.28 by $1.34. For the latest four quarters through June 30, E.P.S. were $10.15 versus $2.05 for the same period a year ago — an increase of 395%.
Recent Price Action
Hyster-Yale Materials Handling I (NYSE: HY) stock closed at $70.02 on 8/6/24 after a modest gain of 1.0%. However, this advance was accompanied by normal trading volume at 83% of normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -12.6% during the last week.
Current PriceTarget Research Rating
HY is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Hyster-Yale Materials Handling I has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Hyster-Yale Materials Handling I has a poor Appreciation Score of 27 but a good Power Rating of 85, triggering the Neutral Value Trend Rating.
Rating Review
In light of this encouraging new earnings information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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