Joy Global Inc. (JOY) Receives $21.04 Average Target Price from Brokerages
Joy Global Inc. (NYSE:JOY) has been given a consensus recommendation of “Hold” by the twenty-one research firms that are presently covering the firm. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $21.04.
A number of brokerages recently issued reports on JOY. Vetr cut Joy Global from a “buy” rating to a “hold” rating and set a $21.00 target price on the stock. in a report on Wednesday, June 29th. FBR & Co reiterated a “buy” rating on shares of Joy Global in a report on Friday, July 22nd. BB&T Corp. upgraded Joy Global from an “underweight” rating to a “hold” rating in a report on Thursday, July 21st. BMO Capital Markets downgraded Joy Global from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $24.00 to $28.00 in a report on Thursday, July 21st. Finally, Jefferies Group lifted their price target on Joy Global from $19.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 15th.
A number of institutional investors have recently modified their holdings of the stock. A.R.T. Advisors LLC raised its position in shares of Joy Global by 31.8% in the first quarter. A.R.T. Advisors LLC now owns 168,891 shares of the company’s stock valued at $2,714,000 after buying an additional 40,729 shares in the last quarter. Invictus RG purchased a new position in shares of Joy Global during the first quarter valued at about $180,000. Nuveen Asset Management LLC raised its position in shares of Joy Global by 133.9% in the first quarter. Nuveen Asset Management LLC now owns 639,804 shares of the company’s stock valued at $10,282,000 after buying an additional 366,263 shares in the last quarter. HBK Investments L P purchased a new position in shares of Joy Global during the first quarter valued at about $8,782,000. Finally, Meeder Asset Management Inc. raised its position in shares of Joy Global by 228.3% in the first quarter. Meeder Asset Management Inc. now owns 44,867 shares of the company’s stock valued at $721,000 after buying an additional 31,202 shares in the last quarter.
Joy Global (NYSE:JOY) opened at 27.86 on Wednesday. The stock’s market capitalization is $2.73 billion. The stock has a 50 day moving average price of $27.59 and a 200-day moving average price of $22.92. Joy Global has a 12-month low of $8.35 and a 12-month high of $28.55.
Joy Global (NYSE:JOY) last issued its earnings results on Thursday, September 1st. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.02. The company earned $587 million during the quarter. Joy Global had a positive return on equity of 2.76% and a negative net margin of 52.93%. The firm’s revenue was down 26.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. Equities research analysts expect that Joy Global will post $0.14 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 19th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $0.04 annualized dividend and a yield of 0.14%. Joy Global’s dividend payout ratio is -0.29%.
Joy Global Company Profile
Joy Global Inc is a manufacturer and servicer of mining equipment for the extraction of metals and minerals. The Company manufactures and markets original equipment and parts, and performs services for both underground and surface mining, as well as certain industrial applications. Its equipment is used in mining regions to mine coal, copper, iron ore, oil sands, gold, and other minerals and ores.
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