Joy Global Price Target Raised to $65.00 at William Blair (JOY)
Equities research analysts at William Blair boosted their price objective on shares of Joy Global (NYSE:JOY) from $60.00 to $65.00 in a research note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. William Blair’s price target would indicate a potential upside of 5.35% from the stock’s previous close.
JOY has been the subject of a number of other recent research reports. 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $59.73.
Shares of Joy Global (NYSE:JOY) opened at 61.70 on Friday. Joy Global has a 52 week low of $47.83 and a 52 week 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 P/E ratio of 13.91. Joy Global also was the target of some unusual options trading on Wednesday. Investors purchased 3,633 put options on the company. This is an increase of approximately 183% compared to the average 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 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. Analysts expect that Joy Global will post $3.25 EPS 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.
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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