Joy Global Inc. (JOY) Issues FY14 Earnings Guidance
Joy Global Inc. (NYSE:JOY) updated its FY14 earnings guidance on Thursday. The company provided EPS guidance of $3.15-3.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.23, Analyst Ratings.Net reports. The company issued revenue guidance of $3.65-3.75 billion, compared to the consensus revenue estimate of $3.76 billion.
A number of research firms have recently commented on JOY. Analysts at JPMorgan Chase & Co. raised their price target on shares of Joy Global from $60.00 to $62.00 in a research note on Thursday, August 28th. On a related note, analysts at Zacks reiterated a neutral rating on shares of Joy Global in a research note on Friday, August 22nd. They now have a $67.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $62.10.
Joy Global Inc. (NYSE:JOY) traded down 0.50% on Thursday, hitting $61.89. The stock had a trading volume of 1,267,766 shares. Joy Global Inc. has a 52-week low of $49.70 and a 52-week high of $65.36. The stock has a 50-day moving average of $62.08 and a 200-day moving average of $59.85. The company has a market cap of $6.183 billion and a P/E ratio of 19.54.
Joy Global (NYSE:JOY) last issued its quarterly earnings data on Thursday, September 4th. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by $0.04. The company had revenue of $876.00 million for the quarter, compared to the consensus estimate of $934.25 million. During the same quarter in the previous year, the company posted $1.70 earnings per share. The company’s revenue for the quarter was down 33.7% on a year-over-year basis. On average, analysts predict that Joy Global Inc. will post $3.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, September 2nd.
Joy Global Inc is a manufacturer and servicer of high productivity mining equipment for the extraction of coal and other minerals and ores.
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