Mining equipment maker Joy Global Inc.'s ( JOY ) reported its fiscal fourth-quarter net income climbed 18 percent, helped by its recent acquisition of LeTourneau Technologies.
Revenue increased 27 percent to $1.34 billion from $1.05 billion as customers ordered more equipment to increase mine production. Looking ahead, the company is forecasting 2012 earnings of $7 to $7.40 per share on revenue of $5.3 billion to $5.5 billion. The consensus estimates are for the company top earn $7.19 per share in 2012.
The Bottom Line
Shares of Joy Global ( JOY ) have a .80% dividend yield, based on last night's closing stock price of $84.55. The stock has technical support in the $75-$80 price area. If the shares can firm up, we see overhead resistance around the $90-$92 price levels.
Joy Global is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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