Joy Global Inc. (NYSE:JOY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Joy Global Inc. (NYSE:JOY) have been assigned an average recommendation of “Hold” from the twenty-five research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $16.18.

Joy Global (NYSE:JOY) opened at 12.61 on Monday. The firm’s market capitalization is $1.23 billion. The company has a 50 day moving average price of $13.57 and a 200-day moving average price of $21.26. Joy Global has a 52 week low of $10.42 and a 52 week high of $47.22.

Joy Global (NYSE:JOY) last released its earnings results on Wednesday, December 16th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. During the same quarter in the previous year, the company posted $1.25 earnings per share. The company had revenue of $865.60 million for the quarter, compared to the consensus estimate of $791.14 million. The business’s revenue was down 23.6% compared to the same quarter last year. Equities analysts predict that Joy Global will post $0.33 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Wednesday, December 30th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, December 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.32%.

An institutional investor recently raised its position in Joy Global stock. J. Goldman & Company boosted its stake in Joy Global Inc. (NYSE:JOY) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,000 shares of the company’s stock after buying an additional 7,500 shares during the period. J. Goldman & Company’s holdings in Joy Global were worth $1,566,000 at the end of the most recent reporting period.

A number of analysts have recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $16.00 target price (down from $21.00) on shares of Joy Global in a research report on Wednesday. Vetr upgraded Joy Global from a “buy” rating to a “strong-buy” rating and set a $14.66 target price for the company in a research report on Tuesday. FBR & Co. upgraded Joy Global to a “hold” rating in a research report on Sunday, December 27th. TheStreet cut Joy Global from a “hold” rating to a “sell” rating in a report on Friday, December 18th. Finally, William Blair lowered their price target on Joy Global from $26.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, December 17th.

12 Month Chart for NYSE:JOY

Joy Global Inc. is a manufacturer and servicer of high productivity mining equipment for the extraction of coal and other minerals and ores. The Company manufactures and market original equipment and aftermarket parts and services for both underground and surface mining and certain industrial applications. The Company’s equipment is used in major mining regions throughout the world to mine coal, copper, iron ore, oil sands, gold and other minerals. The Company operates in two business segments: Underground Mining Machinery and Surface Mining Equipment. The Company is a manufacturer of underground mining machinery for the extraction of coal and other bedded minerals and offer service locations near major mining regions worldwide. The Company is a major producer of surface mining equipment for the extraction of ores and minerals and provides extensive operational support for many types of equipment used in surface mining.

 

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