Joy Global, Inc. Third Quarter Earnings Sneak Peek

Joy Global, Inc. (NASDAQ:JOYG) will unveil its latest earnings on Wednesday, August 31, 2011. Joy Global, Inc. is a manufacturer and servicer of mining equipment for the extraction of coal and other minerals and ores. The equipment is used in the mining regions globally to mine coal, copper, iron ore, oil sands, and other minerals.

Joy Global, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.52 per share, a rise of 34.5% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.43. Between one and three months ago, the average estimate moved up, but it has been unchanged at $1.52 during the last month. For the year, analysts are projecting profit of $5.77 per share, a rise of 31.1% from last year.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the second quarter, it reported net income of $1.52 per share against a mean estimate of profit of $1.35 per share. In the first quarter, it missed forecasts by 10 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.16 billion in revenue this quarter, a rise of 36.5% from the year ago quarter. Analysts are forecasting total revenue of $4.46 billion for the year, a rise of 26.7% from last year’s revenue of $3.52 billion.

Analyst Ratings: Analysts are bullish on this stock with 10 analysts rating it as a buy, none rating it as a sell and nine rating it as a hold.

Key Stats:

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 34.5% while it rose 34.1% in the first quarter and 18% in the fourth quarter of the last fiscal year.

Revenue has now gone up for three straight quarters. In second quarter, revenue rose 18.6% to $1.06 billion while the figure rose 19.2% in the first quarter from the year earlier and 8.9% in the fourth quarter of the last fiscal year.

Competitors to Watch: Bucyrus Intl., Inc. (NASDAQ:BUCY), Caterpillar (NYSE:CAT), Deere & Company (NYSE:DE), General Electric Company (NYSE:GE), Astec Industries, Inc. (NASDAQ:ASTE), Columbus McKinnon Corp. (NASDAQ:CMCO), Manitowoc Company, Inc. (NYSE:MTW), Cummins Inc. (NYSE:CMI), CNH Global N.V. (NYSE:CNH), Navistar Intl. Corp. (NYSE:NAV), Terex Corporation (NYSE:TEX), and Lindsay Corporation (NYSE:LNN).

Stock Price Performance: During July 28, 2011 to August 25, 2011, the stock price had dropped $20.34 (-21.7%) from $93.67 to $73.33. The stock price saw one of its best stretches over the last year between January 7, 2011 and January 18, 2011 when shares rose for seven-straight days, rising 8.1% (+$6.99) over that span. It saw one of its worst periods between July 29, 2011 and August 8, 2011 when shares fell for seven-straight days, falling 23.7% (-$22.22) over that span. Shares are down $13.09 (-15.1%) year to date.

(Source: Xignite Financials)

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.