Joy Global’s (JOY) Hold Rating Reaffirmed at BMO Capital Markets
Joy Global Inc. (NYSE:JOY)‘s stock had its “hold” rating restated by equities researchers at BMO Capital Markets in a research report issued to clients and investors on Tuesday. They presently have a $28.00 price objective on the stock. BMO Capital Markets’ target price suggests a potential upside of 2.00% from the company’s previous close.
JOY has been the topic of several other reports. Vetr lowered Joy Global from a “strong-buy” rating to a “buy” rating and set a $18.37 price target on the stock. in a research report on Wednesday, May 25th. Axiom Securities restated a “sell” rating on shares of Joy Global in a research report on Monday, May 23rd. FBR & Co restated a “buy” rating on shares of Joy Global in a research report on Friday, July 22nd. Avondale Partners lowered Joy Global from an “outperform” rating to a “market perform” rating in a research report on Friday, July 22nd. Finally, BB&T Corp. upgraded Joy Global from an “underweight” rating to a “hold” rating in a research report on Thursday, July 21st. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $19.69.
Shares of Joy Global (NYSE:JOY) traded down 0.04% during midday trading on Tuesday, hitting $27.45. The stock had a trading volume of 1,599,388 shares. The stock’s market cap is $2.69 billion. Joy Global has a 12 month low of $8.35 and a 12 month high of $28.55. The stock’s 50-day moving average is $27.45 and its 200-day moving average is $21.51.
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Joy Global (NYSE:JOY) last issued its quarterly earnings data on Thursday, September 1st. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.02. The business earned $587 million during the quarter. Joy Global had a positive return on equity of 2.76% and a negative net margin of 52.93%. The business’s revenue was down 26.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 EPS. Equities analysts anticipate that Joy Global will post $0.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, September 15th. Joy Global’s dividend payout ratio is presently -0.29%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Joy Global during the fourth quarter valued at about $9,434,000. Fox Run Management L.L.C. bought a new stake in Joy Global during the first quarter valued at about $328,000. PGGM Investments raised its stake in Joy Global by 2.5% in the first quarter. PGGM Investments now owns 64,916 shares of the company’s stock valued at $1,043,000 after buying an additional 1,563 shares in the last quarter. ICM Asset Management Inc. WA bought a new stake in Joy Global during the first quarter valued at about $2,319,000. Finally, Exane Asset Management bought a new stake in Joy Global during the first quarter valued at about $1,133,000.
Joy Global Company Profile
Joy Global Inc is a manufacturer and servicer of mining equipment for the extraction of metals and minerals. The Company manufactures and markets original equipment and parts, and performs services for both underground and surface mining, as well as certain industrial applications. Its equipment is used in mining regions to mine coal, copper, iron ore, oil sands, gold, and other minerals and ores.
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