Joy Global Inc. JOY is scheduled to announce its second quarter financial results on Thursday before the market opens, and expectations point towards a year-over-year decline in earnings of 18-28 percent.
According to Estimize, experts are modeling consensus earnings of $0.55 per share on revenue of $840.69 million, while the crowd is projecting consensus earnings of $0.62 per share on revenue of $857.77 million.
These estimates compare to the earnings of $0.76 per share and revenue of $929.7 million reported in the same quarter last year. However, it does imply an increase from last quarter’s earnings of $0.25 per share and revenue of $703.87 million.
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It is also interesting to see how sentiment has evolved over time. Consensus for both the Street and the crowd have been falling consistently as the earnings date loomed.
Analyst Ratings
A few major Wall Street research firms have weighed in on Joy Global this year. Most recently, Baird upgraded the stock from Neutral to Outperform, raising its price target from $45.00 to $62.00.
Following the first quarter earnings in March, Citigroup reiterated a Neutral, accompanied by a $45 price target; Barclays maintained an Equal-weight, with the same price target as Citigroup; finally, Deutsche Bank issued a Hold, also escorted by a $45 price target.
Shares of Joy Global are down 15.6 percent year-to-date.
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