Investors Purchase High Volume of Joy Global Call Options (JOY)
Joy Global (NYSE:JOY) saw unusually large options trading on Friday. Stock traders acquired 19,062 call options on the stock, AmericanBankingNews.com reports. This is an increase of approximately 517% compared to the average daily volume of 3,089 call options.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Joy Global in a research note on Friday. They now have a $65.00 price target on the stock. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Joy Global in a research note on Friday. They now have a $62.00 price target on the stock, up previously from $60.00. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Joy Global in a research note on Friday. They now have a $65.00 price target on the stock, up previously from $60.00. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $61.75.
Shares of Joy Global (NYSE:JOY) traded up 3.91% on Friday, hitting $64.11. The stock had a trading volume of 5,030,151 shares. Joy Global has a 52-week low of $47.83 and a 52-week high of $62.49. The stock’s 50-day moving average is $59.22 and its 200-day moving average is $56.82. The company has a market cap of $6.420 billion and a P/E ratio of 14.83.
Joy Global (NYSE:JOY) last announced its earnings results on Thursday, June 5th. 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. On average, analysts predict that Joy Global will post $3.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 18th. Shareholders 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 1.25%. The ex-dividend date is Monday, June 2nd. This is a positive change from Joy Global’s previous quarterly dividend of $0.18.
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.