Joy Global Inc. (JOY) Given Average Rating of “Hold” by Analysts
Joy Global Inc. (NYSE:JOY) has earned a consensus rating of “Hold” from the twenty-one research firms that are covering the company. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $21.04.
JOY has been the topic of several analyst reports. Vetr cut Joy Global from a “hold” rating to a “sell” rating and set a $21.00 price objective on the stock. in a research note on Monday, July 11th. FBR & Co reissued a “buy” rating on shares of Joy Global in a research note on Friday, July 22nd. Avondale Partners cut Joy Global from an “outperform” rating to a “market perform” rating in a research note on Friday, July 22nd. BB&T Corp. raised Joy Global from an “underweight” rating to a “hold” rating in a research note on Thursday, July 21st. Finally, Axiom Securities reaffirmed a “sell” rating on shares of Joy Global in a research note on Tuesday, August 30th.
A number of hedge funds have recently bought and sold shares of the company. LS Investment Advisors LLC raised its stake in Joy Global by 71.9% in the second quarter. LS Investment Advisors LLC now owns 6,053 shares of the company’s stock worth $128,000 after buying an additional 2,532 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Joy Global by 1,233.3% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,000 shares of the company’s stock valued at $169,000 after buying an additional 7,400 shares in the last quarter. Invictus RG acquired a new stake in shares of Joy Global during the first quarter valued at approximately $180,000. First Mercantile Trust Co. acquired a new stake in shares of Joy Global during the second quarter valued at approximately $180,000. Finally, Acrospire Investment Management LLC raised its stake in shares of Joy Global by 368.4% in the second quarter. Acrospire Investment Management LLC now owns 8,900 shares of the company’s stock valued at $188,000 after buying an additional 7,000 shares in the last quarter.
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Joy Global (NYSE:JOY) traded up 0.07% on Wednesday, hitting $27.77. The stock had a trading volume of 201,906 shares. The firm’s market capitalization is $2.73 billion. Joy Global has a 1-year low of $8.35 and a 1-year high of $28.55. The stock’s 50-day moving average is $27.55 and its 200 day moving average is $22.76.
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 Thomson Reuters’ consensus estimate of $0.12 by $0.02. Joy Global had a positive return on equity of 2.76% and a negative net margin of 52.93%. The company had revenue of $587 million for the quarter. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Joy Global’s revenue was down 26.0% compared to the same quarter last year. On average, equities research analysts predict that Joy Global will post $0.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.14%. Joy Global’s dividend payout ratio is currently -0.29%.
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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