Joy Global Price Target Increased to $67.00 by Analysts at RBC Capital (JOY)
Analysts at RBC Capital lifted their price objective on shares of Joy Global (NYSE:JOY) from $62.00 to $67.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target would suggest a potential upside of 8.59% from the company’s current price.
Joy Global (NYSE:JOY) opened at 61.70 on Friday. Joy Global has a one year low of $47.83 and a one year high of $62.49. The stock has a 50-day moving average of $59.22 and a 200-day moving average of $56.82. The company has a market cap of $6.178 billion and a price-to-earnings ratio of 13.91. Joy Global also was the target of unusually large options trading activity on Wednesday. Stock traders purchased 3,633 put options on the company. This is an increase of approximately 183% compared to the average daily volume of 1,286 put options.
Joy Global (NYSE:JOY) last announced its earnings results on Thursday, June 5th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.73 earnings per share. The company’s revenue for the quarter was down 31.7% on a year-over-year basis. On average, analysts predict that Joy Global will post $3.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Monday, June 2nd. This is a positive change from Joy Global’s previous quarterly dividend of $0.18.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America upgraded shares of Joy Global to a “buy” rating in a research note on Friday. Separately, analysts at Robert W. Baird raised their price target on shares of Joy Global from $57.00 to $62.00 in a research note on Friday. Finally, analysts at William Blair raised their price target on shares of Joy Global from $60.00 to $65.00 in a research note on Friday. They now have an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $60.18.
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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