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Joy Global Beats Expectations, Guidance Below Analyst Expectations (JOY)

Posted: 12/12/2012 8:37:00 AM
Referenced Stocks: JOY

Mining equipment manufacturer, Joy Global Inc.( JOY ) reported increased earnings for their Q4 on Wednesday, beating analysts estimates.

The Milwaukee. MI based company reported fourth quarter earnings of $212.56 million, or $1.99 per share, up 19% from last years Q4 earnings of $172.35 million, or $1.62 per share. Excluding special items, the company reported earnings of $208.3 million, or $1.94 per share, up from $193.7 million, or $1.82 per share. On average, analysts expected EPS of $1.91.

Revenue was reported at $1.59 billion, up 19% from last years revenue of $1.34 billion. Analysts expected revenue of $1.42 billion.

Looking ahead, JOY expects to to see earnings for fiscal 2013 in the range of $5.90 to $6.50 per share. Revenue is expected to be in the range of $4.9 million and $5.2 billion. Analysts are estimating EPS of $6.73, with $5.21 billion in revenue.

Joy Global shares were mostly flat during premarket trading Wednesday. The stock is down -35% YTD.

The Bottom Line
Shares of Joy Global ( JOY ) have a 1.21% dividend yield, based on last night's closing stock price of $57.87. The stock has technical support in the $51-$52 price area. If the shares can firm up, we see overhead resistance around the $62-$65 price levels.

Joy Global Inc.( JOY ) is not recommended at this time, holding a DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .