Shares of Joy Global Inc. (NYSE:JOY) have been given a consensus rating of “Hold” by the twenty-one analysts that are presently covering the stock. Two investment analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $21.04.
A number of equities analysts have recently commented on the stock. FBR & Co reiterated a “buy” rating on shares of Joy Global in a report on Friday, July 22nd. Avondale Partners lowered shares of Joy Global from an “outperform” rating to a “market perform” rating in a report on Friday, July 22nd. Vetr lowered shares of Joy Global from a “sell” rating to a “strong sell” rating and set a $21.00 target price on the stock. in a report on Monday, July 25th. Axiom Securities restated a “sell” rating on shares of Joy Global in a report on Tuesday, August 30th. Finally, BMO Capital Markets restated a “hold” rating and issued a $28.00 target price on shares of Joy Global in a report on Tuesday, September 20th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC boosted its stake in shares of 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 during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in 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. First Mercantile Trust Co. purchased a new stake in Joy Global during the second quarter valued at about $180,000. Acrospire Investment Management LLC boosted its stake in 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. Finally, Princeton Alpha Management LP purchased a new stake in Joy Global during the second quarter valued at about $226,000.
Shares of Joy Global (NYSE:JOY) opened at 27.86 on Wednesday. Joy Global has a 52-week low of $8.35 and a 52-week high of $28.55. The company’s market cap is $2.73 billion. The company has a 50 day moving average of $27.59 and a 200-day moving average of $22.92.
Joy Global (NYSE:JOY) last issued its quarterly earnings results on Thursday, September 1st. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $587 million for 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 for the quarter was down 26.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. Analysts forecast that Joy Global will post $0.14 EPS 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 paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, September 15th. Joy Global’s payout ratio is -0.29%.