NEW YORK (TheStreet) -- Joy Global (JOY) shares continue to decline, down -2.2% to $60.82 in afternoon trading on Thursday, after weak thermal coal prospects caused the mining equipment manufacturer to report third quarter earnings of 80 cents per share, 4 cents worse than analysts were expecting.
Watch the video below for a closer look at Joy Global's latest quarterly results:
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The company reported third quarter revenue of $875.7 million which missed analysts guidance of $932 million.
Joy Global also lowered its full year guidance down to between $3.65 billion and $3.75 billion from its previous forecast of $3.6 billion to $3.8 billion.
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TheStreet Ratings team rates JOY GLOBAL INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
- You can view the full analysis from the report here: JOY Ratings Report
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