Financial

Investors Attention Alert: Joy Global Inc. (NYSE:JOY), Dover Corporation (NYSE:DOV)

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Joy Global Inc. (NYSE:JOY) initiated the shares trading at $27.66 and showed positive change of +19.75% while the stock’s final trade was registered at $ 28.20. However, its previous closing price was seen at $23.55. The stock negotiated total number of 31.89 million shares as compared to 3 months average volume of 4.12 million shares.

The stock price demonstrated downbeat change from its 50 day moving average of 22.08 and had been up from its 200 Day Moving Average of 16.53.

Joy Global, Inc.’s (JOY) has price-to-cash ratio of 17.34 and price to sale ratio of 1.00. The company net profit margin is -46.30% and gross profit margin is 23.40%. A look on the firm performance, its monthly performance is 29.42% and a quarterly performance of 36.03%. The stock price is moving up from its 20 days moving average with 28.65% and isolated positively from 50 days moving average with 40.10%.

Joy Global (JOY) has agreed to sell its steel plate mill in Longview, Texas, to Nucor Corporation (NUE), the largest steel producer in the United States, for about $29 million.

Under Nucor’s ownership, the mill will continue to supply Joy Global with heavy steel plate used to manufacture some of the company’s premier mining equipment.

“This offers great opportunities for the mill employees,” stated Rodney Bull, vice president and general manager for Joy Global in Longview. “We look forward to a strong working joint venture with Nucor as both companies drive for growth in our respective markets.”

Brokerage Recommendations:

According to ZACKS data, different Brokerage Firms rated the stock about their BUY, SELL or HOLD recommendations. 2 Months Ago, shares have been suggested as “BUY” from “8” brokerage firms and recommended as “Strong Buy” by “0” brokerage firms. 2” brokerage firms have issued “Sell” rating for the company and “Strong Sell” rating was issued by “2.85” brokerage firms. “0” brokerage firms have rated the company as a “Hold”. The Corporation has average brokerage recommendation (ABR) of 0 based on consensus of the brokerage firms issuing ratings.

Shares of Dover Corporation (NYSE:DOV) declined -1.56% and ended at $71.91 smaller than previous closing price of $73.05. The total 2.94 million shares were bought and sold throughout the most recent trading session more than average volume of 1.37 million shares.

The average true range of Dover Corporation’s (DOV) is recorded at 1.43 and the relative strength index of the stock stands 58.90. The stock price is going above to its 52 week low with 43.15% and lagging behind from its 52 week high with -2.27%. Analyst recommendation for this stock stands at 2.60. A look on the firm performance, its monthly performance is 1.54% and a quarterly performance of 8.53%. The stock price is trading upbeat from its 200 days moving average with 13.80% and up from 50 days moving average with 4.81%.

Dover (DOV) reported that for the q2 ended June 30, 2016, revenue was $1.7 billion, a decrease of 4% from the previous year. Organic revenue declined 7% and acquisition revenue, net of dispositions, provided 3% growth in the quarter. Earnings from continuing operations were $118.3 million, a decrease of 24% as compared to $155.6 million for the previousyear period. Diluted earnings per share from continuing operations (“EPS”) for the q2 ended June 30, 2016, were $0.76, compared to $0.97 EPS in the previousyear period, representing a decrease of 22%. EPS from continuing operations for the q2 of 2016 includes discrete tax costs of about $0.01, deal costs of $0.02, and one-time costs of $0.04. EPS for the q2 ended June 30, 2016, and 2015, also includes restructuring costs of $0.04 EPS and $0.01 EPS, respectively.

Brokerage Recommendations:

According to ZACKS data, different Brokerage Firms rated the stock about their BUY, SELL or HOLD recommendations. 2 Months Ago, shares have been suggested as “BUY” from “10” brokerage firms and recommended as “Strong Buy” by “0” brokerage firms. 0” brokerage firms have issued “Sell” rating for the company and “Strong Sell” rating was issued by “2.43” brokerage firms. “0” brokerage firms have rated the company as a “Hold”. The Corporation has average brokerage recommendation (ABR) of 0 based on consensus of the brokerage firms issuing ratings.

 

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