Joy Global Upgraded to Buy at S&P Equity Research (JOY)
A number of other firms have also recently commented on JOY. Analysts at RBC Capital raised their price target on shares of Joy Global from $62.00 to $67.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Bank of America upgraded shares of Joy Global from a “neutral” rating to a “buy” rating in a research note on Friday. Finally, 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $60.18.
Joy Global (NYSE:JOY) opened at 63.15 on Friday. Joy Global has a 1-year low of $47.83 and a 1-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 $6.324 billion and a P/E ratio of 14.83. Joy Global also was the target of unusually large options trading activity on Wednesday. Investors acquired 3,633 put options on the stock. This represents an increase of approximately 183% compared to the typical volume of 1,286 put options.
Joy Global (NYSE:JOY) last released its earnings data 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. Analysts expect that Joy Global will post $3.25 EPS for the current fiscal 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 1.30%. The ex-dividend date is Monday, June 2nd. This is a boost 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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