Joy Global Inc. (JOY): Today's Featured Industrial Loser
Joy Global (JOY) pushed the Industrial industry lower today making it today's featured Industrial loser. The industry as a whole closed the day up 1.1%. By the end of trading, Joy Global fell 63 cents (-0.9%) to $71.60 on average volume. Throughout the day, 1.9 million shares of Joy Global exchanged hands as compared to its average daily volume of 2.5 million shares. The stock ranged in price between $71.57-$72.95 after having opened the day at $72.53 as compared to the previous trading day's close of $72.23. Other company's within the Industrial industry that declined today were: NF Energy Saving (NFEC), down 11.9%, Wuhan General Group (WUHN), down 11.2%, Dixie Group (DXYN), down 9.1%, and American Electric Technologies (AETI), down 8.3%. Joy Global Inc. engages in the manufacture and servicing of mining equipment for the extraction of coal, copper, iron ore, oil sands, and other minerals. The company operates in two segments, Underground Mining Machinery and Surface Mining Equipment. Joy Global has a market cap of $7.49 billion and is part of the industrial goods sector. The company has a P/E ratio of 11.2, below the average industrial industry P/E ratio of 11.6 and below the S&P 500 P/E ratio of 17.7. Shares are down 3.7% year to date as of the close of trading on Thursday. Currently there are 11 analysts that rate Joy Global a buy, no analysts rate it a sell, and six rate it a hold. TheStreet Ratings rates Joy Global as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow.
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