Several other equities analysts also recently commented on the company. BB&T Corp. upgraded Joy Global from an underweight rating to a hold rating in a research note on Thursday, July 21st. Vetr downgraded Joy Global from a sell rating to a strong sell rating and set a $21.00 price objective on the stock. in a research note on Monday, July 25th. Jefferies Group reiterated a hold rating and issued a $19.00 price objective (up previously from $14.00) on shares of Joy Global in a research note on Tuesday, June 7th. Axiom Securities reiterated a sell rating on shares of Joy Global in a research note on Tuesday, August 30th. Finally, Avondale Partners cut shares of Joy Global from an outperform rating to a market perform rating in a report on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $19.69.
Joy Global (NYSE:JOY) opened at 27.73 on Tuesday. The firm’s market capitalization is $2.72 billion. Joy Global has a 52-week low of $8.35 and a 52-week high of $28.55. The stock’s 50 day moving average price is $27.47 and its 200 day moving average price is $21.66.
Joy Global (NYSE:JOY) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by $0.02. Joy Global had a negative net margin of 52.93% and a positive return on equity of 2.76%. The firm earned $587 million during the quarter. During the same quarter last year, the firm posted $0.59 EPS. The company’s revenue was down 26.0% compared to the same quarter last year. On average, analysts predict that Joy Global will post $0.15 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Thursday, September 15th. Joy Global’s dividend payout ratio is -0.29%.
Several institutional investors have recently made changes to their positions in JOY. Arizona State Retirement System increased its position in shares of Joy Global by 0.6% in the first quarter. Arizona State Retirement System now owns 46,540 shares of the company’s stock worth $748,000 after buying an additional 300 shares in the last quarter. Hartford Investment Management Co. purchased a new stake in shares of Joy Global during the second quarter valued at $247,000. Ameriprise Financial Inc. increased its stake in shares of Joy Global by 356.8% in the second quarter. Ameriprise Financial Inc. now owns 1,214,180 shares of the company’s stock valued at $25,667,000 after buying an additional 948,394 shares during the period. HBK Investments L P purchased a new stake in shares of Joy Global during the first quarter valued at $8,782,000. Finally, Robotti Robert increased its stake in shares of Joy Global by 8.6% in the first quarter. Robotti Robert now owns 63,409 shares of the company’s stock valued at $1,019,000 after buying an additional 5,030 shares during the period.
About Joy Global
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.
Receive News & Ratings for Joy Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Joy Global Inc. and related companies with MarketBeat.com's FREE daily email newsletter.