The analyst firm lowered its 2015 EPS estimates for the mining machinery maker to $3.52 a share from of $3.71 a share. Jefferies now expects Joy Global to report earnings of $4.02 a share for 2016, down from its previous estimates of $4.06 a share.
"While EPS may be near a cycle bottom, the timing and slope of any upturn remains uncertain as mining capex plans continue to be pushed to the right," analysts Stephen Volkmann, Chirag Patel, and Thomas Gilloran wrote.
TheStreet Ratings team rates JOY GLOBAL INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate JOY GLOBAL INC (JOY) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income."