Joy Global Downgraded to Sell at Goldman Sachs Group Inc. (JOY)
Joy Global (NYSE:JOY) was downgraded by investment analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $52.00 price target on the stock. Goldman Sachs Group Inc.’s price target points to a potential downside of 7.74% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Joy Global in a research note to investors on Friday, December 27th. They now have a $60.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. Joy Global has an average rating of “Hold” and an average target price of $63.66.
Joy Global (NYSE:JOY) traded down 1.56% during mid-day trading on Friday, hitting $55.48. 1,518,102 shares of the company’s stock traded hands. Joy Global has a 52 week low of $47.83 and a 52 week high of $69.19. The stock has a 50-day moving average of $55. and a 200-day moving average of $52.89. The company has a market cap of $5.661 billion and a price-to-earnings ratio of 11.30.
Joy Global (NYSE:JOY) last announced its earnings results on Wednesday, December 11th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by $0.86. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The company’s revenue for the quarter was down 25.9% on a year-over-year basis. Analysts expect that Joy Global will post $3.30 EPS for the current fiscal year.
Joy Global Inc is a manufacturer and servicer of high productivity mining equipment for the extraction of coal and other minerals and ores.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.