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Joy Global (NYSE:JOY) was up 6.2% during mid-day trading on Thursday following a stronger than expected earnings report, Analyst Ratings News reports. The company traded as high as $61.91 and last traded at $61.46, with a volume of 3,246,798 shares trading hands. The stock had previously closed at $57.85.

The company reported $0.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.71 by $0.05. The company had revenue of $930.00 million for the quarter, compared to the consensus estimate of $933.02 million. During the same quarter last year, the company posted $1.73 earnings per share. Joy Global’s revenue was down 31.7% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Monday, June 2nd. This is a boost from Joy Global’s previous quarterly dividend of $0.18.

A number of analysts have recently weighed in on JOY shares. Analysts at Zacks reiterated a “neutral” rating on shares of Joy Global in a research note on Tuesday, April 1st. They now have a $61.00 price target on the stock. Separately, analysts at TheStreet upgraded shares of Joy Global from a “hold” rating to a “buy” rating in a research note on Monday, March 17th. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Joy Global in a research note on Tuesday, March 11th. They now have a $58.00 price target on the stock, up previously from $54.00. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Joy Global has an average rating of “Hold” and a consensus price target of $58.50.

The stock’s 50-day moving average is $59.20 and its 200-day moving average is $56.79. The company has a market cap of $6.167 billion and a P/E ratio of 13.91. Joy Global also was the target of some unusual options trading activity on Wednesday. Traders acquired 3,633 put options on the company. This represents an increase of approximately 183% compared to the average volume of 1,286 put options.

Joy Global Inc is a manufacturer and servicer of high productivity mining equipment for the extraction of coal and other minerals and ores.

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