| Falling Earnings Estimates Signal Weakness Ahead for Joy Global (JOY) - Tale of the Tape | |
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One such stock that you may want to consider dropping is Joy Global, Inc. (JOY), which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #5 (Strong Sell) further confirms weakness in JOY.
A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 11 estimates moving down in the past 30 days, compared with just 1 upward revision. This trend has caused the consensus estimate to trend lower, going from $3.21 a share a month ago to its current level of $2.62.
Also, for the current quarter, Joy Global has seen 10 downward estimate revisions versus 1 revision in the opposite direction, dragging the consensus estimate down to 62 cents a share from 81 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 13.7% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don’t have a long time horizon to wait.
If you are still interested in the Industrial products sector, you may instead consider a better-ranked stock - Astec Industries, Inc. (ASTE). The stock currently holds a Zacks Rank #2 (Buy) and may be better selection at this time.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JOY GLOBAL INC (JOY): Free Stock Analysis Report ASTEC INDS INC (ASTE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Joy Global is a exploration company based in United states of america. Joy Global is listed in United States of America. Its market capitalisation is US$ 1.2 billions as of today (€ 1.2 billions). Its stock quote reached its lowest recent point on February 12, 2016 at US$ 10.26, and its highest recent level on April 05, 2017 at US$ 28.30. Joy Global has 43 700 000 shares outstanding. |