Credit Agricole Upgrades Joy Global (JOY) to Buy
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Analyst Sees Upside in Joy Global (JOY)
February 28, 2013 1:14 PM ESTGoldman Sachs today maintained a Buy rating on Joy Global (NYSE: JOY) with a price target of $83.00.
Analyst Jerry Revich said recent Q1 results reinforce his view that mining capex budgets and reinvestment rates are at trough and likely to recover in 2014, vs.... More
UPDATE: Joy Global, Inc. (JOY) Tops Q1 EPS by 17c; Reaffirms Outlook
February 27, 2013 6:02 AM EST(Updated - February 27, 2013 7:36 AM EST)
Joy Global, Inc. (NYSE: JOY) reported Q1 EPS of $1.31, $0.17 better than the analyst estimate of $1.14. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.08 billion.
Bookings decreased 29 percent to $1.0 billion in the first quarter of fiscal 2013. The current quarter includes three months of IMM results, while the first quarter of last year included one month. Excluding IMM, orders decreased 32 percent compared to the first quarter of last year.
Bookings compare with a 5 percent drop last quarter to $1.32 billion.
Joy Global... More
