Earnings Preview: Joy Global

| About: Joy Global (JOY)
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Joy Global Inc. (NYSE:JOY) engages in the manufacture and servicing of mining equipment for the extraction of coal, copper, iron ore, oil sands and other minerals. It operates in Farm & Construction Machinery industry.

It is scheduled to report its Q2 FY2012 results on May 31, 2012, before the market opens.

Recent EPS Actuals vs. Estimates

The company has met or exceeded analyst estimates in two out of four last quarters. In the last quarter it reported $1.33 EPS, failing to meet analyst estimates of $1.35.

Analyst Estimates

The consensus for EPS is $1.95 based on 18 analysts' estimates, up from $1.52 a year ago. Revenue estimates are $1.43B, up from $1.06B a year ago. The median target price by analysts for the stock is $100.

Average recommendation: Overweight

JOY Recommendations

Source: Marketwatch

Analyst Upgrades and Downgrades

During the last 30 days, there was one analyst who revised this quarter and this year EPS downwards and one analyst who revised next quarter EPS upward. Here is the list of recent broker rating changes:

  • On April 4, 2012, KeyBanc Capital Markets upgraded JOY from Neutral to Moderate Buy.
  • On March 29, 2012, C.L. King & Associates upgraded JOY from Neutral to Moderate Buy.
  • On March 15, 2012, UBS downgraded JOY from Strong Buy to Hold.

Key Metrics

  • Market cap: $6.77B
  • 52 week trading range: 57.48 - 101.44
  • Trailing P/E: 10.52
  • Forward P/E: 7.39
  • P/S: 1.45
  • P/B: 3.21
  • PEG Ratio: 0.42
  • Annual dividend yield: 1.1%
  • Total debt: $1.40B
  • Return on Equity: 33.18%
  • Return on Assets: 13.06%

Latest Developments

  • On May 23, 2012, Joy Global Inc announced that its Board of Directors has declared a quarterly dividend in the amount of $0.175 per share to be paid on June 18, 2012 to shareholders of record on June 4, 2012.
  • On February 29, Joy Global net up 39%; deals lift revenue.
  • On February 23, Joy Global Inc announced that its Board of Directors has declared a quarterly dividend in the amount of $0.175 per share to be paid on March 19, 2012 to shareholders of record on March 5, 2012.
  • On February 10, Joy Global Inc announced completion of the tender offer that its wholly owned Hong Kong subsidiary, Joy Global Asia Limited, conducted for the shares of International Mining Machinery Holdings Ltd. (IMM), a designer and manufacturer of underground mining equipment in China.

Insider Trading

In the last 3 months there were 23,250 shares sold and 28,251 shares bought/awarded by insiders.


  • On May 16, 2012, Deere & Company (NYSE:DE) raises FY 2012 net income guidance.
  • On May 3, 2012, Manitowoc Co. (NYSE:MTW) reaffirmed its fiscal 2011 guidance. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.85 on revenues of $4.092 billion for fiscal 2012.
  • On May 2, 2012, Meritor, Inc. (NYSE:MTOR) reaffirmed fiscal 2012 guidance and expects revenue to be approximately $4.8 billion, adjusted income from continuing operations in the range of $105-$135 million and adjusted earnings per share (NYSEARCA:EPS) in the range of $1.08-$1.39.
  • On April 25, 2012, Trinity Industries Inc. (NYSE:TRN) issues Q2 2012 EPS guidance above analysts' estimates'; raises FY 2012 EPS guidance.
  • On April 24 Wabtec (NYSE:WAB) announced Q1 EPS of $1.22, beats estimates by $0.02. Revenue of $584M (+28.1% Y/Y) beats by $44M.

Technical Insight

It is testing the support at $60. It is trading below 21-, 50- and 200-day moving averages.

You can find a list of stocks reporting earnings next week.

Sources: Yahoo Finance, Google Finance, CNBC, Marketwatch, Reuters, Forbes.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.