Cautious Investors Not Rewarding Hyster-Yale Materials Handling, Inc.'s (NYSE:HY) Performance Completely
Cautious Investors Not Rewarding Hyster-Yale Materials Handling, Inc.'s (NYSE:HY) Performance Completely
You may think that with a price-to-sales (or "P/S") ratio of 0.3x Hyster-Yale Materials Handling, Inc. (NYSE:HY) is a stock worth checking out, seeing as almost half of all the Machinery companies in the United States have P/S ratios greater than 1.5x and even P/S higher than 4x aren't out of the ordinary. Although, it's not wise to just take the P/S at face value as there may be an explanation why it's limited.
What Does Hyster-Yale Materials Handling's Recent Performance Look Like?
Hyster-Yale Materials Handling certainly has been doing a good job lately as it's been growing revenue more than most other companies. Perhaps the market is expecting future revenue performance to dive, which has kept the P/S suppressed. If you like the company, you'd be hoping this isn't the case so that you could potentially pick up some stock while it's out of favour.
Want the full picture on analyst estimates for the company? Then our free report on Hyster-Yale Materials Handling will help you uncover what's on the horizon.How Is Hyster-Yale Materials Handling's Revenue Growth Trending?
Hyster-Yale Materials Handling's P/S ratio would be typical for a company that's only expected to deliver limited growth, and importantly, perform worse than the industry.
Retrospectively, the last year delivered an exceptional 16% gain to the company's top line. Pleasingly, revenue has also lifted 46% in aggregate from three years ago, thanks to the last 12 months of growth. Accordingly, shareholders would have definitely welcomed those medium-term rates of revenue growth.
Looking ahead now, revenue is anticipated to climb by 1.9% during the coming year according to the two analysts following the company. That's shaping up to be similar to the 1.1% growth forecast for the broader industry.
With this in consideration, we find it intriguing that Hyster-Yale Materials Handling's P/S is lagging behind its industry peers. Apparently some shareholders are doubtful of the forecasts and have been accepting lower selling prices.
The Bottom Line On Hyster-Yale Materials Handling's P/S
It's argued the price-to-sales ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.
It looks to us like the P/S figures for Hyster-Yale Materials Handling remain low despite growth that is expected to be in line with other companies in the industry. When we see middle-of-the-road revenue growth like this, we assume it must be the potential risks that are what is placing pressure on the P/S ratio. At least the risk of a price drop looks to be subdued, but investors seem to think future revenue could see some volatility.
Before you take the next step, you should know about the 1 warning sign for Hyster-Yale Materials Handling that we have uncovered.
It's important to make sure you look for a great company, not just the first idea you come across. So if growing profitability aligns with your idea of a great company, take a peek at this free list of interesting companies with strong recent earnings growth (and a low P/E).
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
你可能會認爲,市銷率(或 “市盈率”)爲0.3倍的海斯特-耶魯材料處理公司(紐約證券交易所代碼:HY)是一隻值得一看的股票,因爲幾乎一半的美國機械公司的市銷率大於1.5倍,即使市盈率高於4倍也並非不尋常。但是,僅按面值計算市銷率是不明智的,因爲可以解釋其有限的原因。
海斯特-耶魯物料搬運公司的近期表現如何?
海斯特-耶魯物料搬運公司最近確實做得很好,因爲它的收入增長幅度超過了大多數其他公司。也許市場預計未來的收入表現將下降,這使市銷率一直受到抑制。如果你喜歡這家公司,你希望情況並非如此,這樣你就有可能在它失寵的時候買入一些股票。
想全面了解分析師對公司的估計嗎?然後,我們關於海斯特-耶魯物料處理的免費報告將幫助您發現即將發生的事情。海斯特-耶魯材料處理公司的收入增長趨勢如何?
海斯特-耶魯物料搬運公司的市銷率對於一家預計增長有限,而且重要的是表現不如行業的公司來說是典型的。
回顧過去,去年的公司收入實現了16%的驚人增長。令人高興的是,得益於過去12個月的增長,總收入也比三年前增長了46%。因此,股東們肯定會對這些中期收入增長率表示歡迎。
關注該公司的兩位分析師表示,展望未來,來年收入預計將增長1.9%。這將與整個行業1.1%的增長預測相似。
考慮到這一點,我們發現有趣的是,海斯特-耶魯物料處理公司的市銷率落後於業內同行。顯然,一些股東對預測持懷疑態度,並一直在接受較低的銷售價格。
海斯特-耶魯物料處理公司市銷率的底線
有人認爲,在某些行業中,市銷率是衡量價值的較差指標,但它可以是一個有力的商業信心指標。
在我們看來,儘管預計增長將與業內其他公司持平,但海斯特-耶魯物料搬運公司的市銷率仍然很低。當我們看到這樣的收入增長處於中間位置時,我們認爲給市銷率帶來壓力的肯定是潛在風險。至少價格下跌的風險似乎已被抑制,但投資者似乎認爲未來的收入可能會出現一些波動。
在您採取下一步行動之前,您應該了解我們發現的海斯特-耶魯物料搬運的 1 個警告標誌。
重要的是要確保你尋找一家優秀的公司,而不僅僅是你遇到的第一個想法。因此,如果盈利能力的增長與你對一家優秀公司的想法一致,那就來看看這份免費名單吧,列出了最近收益增長強勁(市盈率低)的有趣公司。
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。
譯文內容由第三人軟體翻譯。
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