Joy Global (JOY) Releases Earnings Results, Beats Expectations By $0.10 EPS

Joy Global (JOY) reported quarterly earnings results on Thursday, Jun-2-2016. The company said it had a profit of $0.09 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $-0.01. The company posted revenue of $602.00 million in the period, compared to analysts expectations of $605.64 million. The company’s revenue was down -25.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS.

Many Wall Street Analysts have commented on Joy Global. Company shares were Upgraded by Goldman on Apr 25, 2016 to ” Neutral”, Firm has raised the Price Target to $ 24 from a previous price target of $13 .Joy Global was Upgraded by BofA/Merrill to ” Neutral” on Apr 18, 2016.

Joy Global closed down -0.33 points or -1.94% at $16.7 with 38,63,087 shares getting traded on Wednesday. Post opening the session at $16.73, the shares hit an intraday low of $16.14 and an intraday high of $16.855 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jan 8, 2016, Edward L Ii Doheny (CEO) purchased 10,000 shares at $11.20 per share price. According to the SEC, on Sep 29, 2015, Paul Eric Siegert (director) purchased 25,000 shares at $14.81 per share price. On Sep 17, 2015, Richard B Loynd (director) purchased 5,000 shares at $18.60 per share price, according to the Form-4 filing with the securities and exchange commission.

Joy Global Inc. is a manufacturer and servicer of high productivity mining equipment for the extraction of coal and other minerals and ores. The Company manufactures and market original equipment and aftermarket parts and services for both underground and surface mining and certain industrial applications. The Company’s equipment is used in major mining regions throughout the world to mine coal copper iron ore oil sands gold and other minerals. The Company operates in two business segments: Underground Mining Machinery and Surface Mining Equipment. The Company is a manufacturer of underground mining machinery for the extraction of coal and other bedded minerals and offer service locations near major mining regions worldwide. The Company is a major producer of surface mining equipment for the extraction of ores and minerals and provides extensive operational support for many types of equipment used in surface mining.

Joy Global

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