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Stock analysts at JPMorgan Chase & Co. hoisted their price objective on shares of Joy Global (NYSE:JOY) from $60.00 to $62.00 in a report issued on Thursday. JPMorgan Chase & Co.’s price objective suggests a potential downside of 2.93% from the stock’s previous close.

Joy Global (NYSE:JOY) traded down 1.22% during mid-day trading on Thursday, hitting $63.09. 995,894 shares of the company’s stock traded hands. Joy Global has a one year low of $48.52 and a one year high of $65.36. The stock’s 50-day moving average is $61.78 and its 200-day moving average is $59.62. The company has a market cap of $6.303 billion and a P/E ratio of 20.06.

Joy Global (NYSE:JOY) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.73 earnings per share. The company’s quarterly revenue was down 31.7% on a year-over-year basis. Analysts expect that Joy Global will post $3.22 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 18th. Shareholders of record on Thursday, September 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 Tuesday, September 2nd.

Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Joy Global in a research note on Friday, August 22nd. They now have a $67.00 price target on the stock. Separately, analysts at Longbow Research downgraded shares of Joy Global from a “neutral” rating to an “underperform” rating in a research note on Monday, June 23rd. They now have a $50.00 price target on the stock. Finally, analysts at KeyCorp reiterated a “buy” rating on shares of Joy Global in a research note on Monday, June 9th. They now have a $75.00 price target on the stock, up previously from $65.00. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $61.97.

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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