Hyster-Yale Materials Handling, Inc
) shares attained a 52-week high of $108.13 during intraday
trading on Mar 7, finally closing lower at $104.36.
The company delivered a robust 1-year return of about 101.4%,
outperforming the S&P 500 return of 24.2%. Hyster-Yale has a
market cap of $1.74 billion. Average volume of shares traded over
the last 3 months was approximately 67K.
What's Driving Hyster-Yale?
Shares of Hyster-Yale have been on the rise since the company
reported upbeat fiscal 2013 results on Feb 19. Hyster-Yale
reported earnings per share of $6.54 in 2013, up around 12% from
$5.83 per share in 2012. The results beat the Zacks Consensus
Estimate of $5.78. Earnings per share in the fourth quarter
dipped 21% year over year to $1.53. Results, however, surpassed
the Zacks Consensus Estimate of $1.47.
Hyster-Yale expects the global market for forklift trucks to grow
slightly in 2014. Market growth and a strong backlog at the end
of 2013 will aid in unit shipments and parts volumes increment.
The majority of this increase is expected to come from the
Americas, with smaller increases in the Asia-Pacific and European
The company anticipates sales to improve moderately in 2014.
Operating profit is also expected to increase on the back of
favorable effects of strategic initiatives and product
enhancements. A lower estimate for equity incentive compensation
is also projected to contribute toward a higher operating profit.
Cash flow for 2014 is expected to decline primarily due to
increase in capital expenditures resulting from the construction
of a new plant in Brazil.
Hyster-Yale will benefit from new programs and platforms that are
expected to be developed and launched over the next few years
based on longer-term segment needs or technological changes.
Hyster-Yale also remains focused on improving margins in its
internal combustion engine business.
Other Stocks to Consider
Hyster-Yale currently holds a Zacks Rank #2 (Buy). Some
other stocks worth considering in the sector include
Sun Hydraulics Corp.
Altra Industrial Motion Corp.
). While Kadant and Sun Hydraulics sport a Zacks Rank #1 (Strong
Buy), Altra Industrial Motion holds a Zacks Rank #2.
ALTRA HOLDINGS (AIMC): Free Stock Analysis
HYSTER-YALE MAT (HY): Get Free Report
KADANT INC (KAI): Free Stock Analysis Report
SUN HYDRAULICS (SNHY): Free Stock Analysis
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