Joy Global Inc. (JOY) Trading Up 5.5%
Joy Global Inc. (NYSE:JOY) shares were up 5.5% during mid-day trading on Friday . The company traded as high as $22.06 and last traded at $21.95, with a volume of 1,134,034 shares trading hands. The stock had previously closed at $20.80.
A number of research analysts have issued reports on JOY shares. BMO Capital Markets restated an “outperform” rating on shares of Joy Global in a research report on Monday, March 14th. Axiom Securities restated a “sell” rating and set a $10.00 target price on shares of Joy Global in a research report on Tuesday, March 15th. Vetr upgraded shares of Joy Global from a “strong sell” rating to a “sell” rating and set a $13.64 target price on the stock in a research report on Wednesday, March 23rd. Goldman Sachs Group Inc. restated a “sell” rating on shares of Joy Global in a research report on Thursday, March 31st. Finally, FBR & Co restated a “market perform” rating on shares of Joy Global in a research report on Tuesday, April 5th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Joy Global presently has an average rating of “Hold” and a consensus price target of $18.63.
The company’s market capitalization is $2.15 billion. The company’s 50 day moving average is $20.29 and its 200-day moving average is $15.87.
Joy Global (NYSE:JOY) last posted its quarterly earnings data on Thursday, June 2nd. The company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.10. The company earned $602 million during the quarter, compared to analyst estimates of $605.64 million. During the same period in the prior year, the firm earned $0.59 earnings per share. Joy Global’s revenue was down 25.7% compared to the same quarter last year. On average, analysts forecast that Joy Global Inc. will post $0.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 6th. Investors of record on Wednesday, June 22nd were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend was Monday, June 20th.
Several institutional investors recently bought and sold shares of JOY. BOKF NA raised its position in Joy Global by 3.6% in the fourth quarter. BOKF NA now owns 145,489 shares of the company’s stock worth $1,834,000 after buying an additional 5,101 shares in the last quarter. Rhumbline Advisers raised its position in shares of Joy Global by 3.3% in the fourth quarter. Rhumbline Advisers now owns 146,991 shares of the company’s stock valued at $1,854,000 after buying an additional 4,749 shares during the period. Levin Capital Strategies L.P. acquired a new position in shares of Joy Global during the fourth quarter valued at about $1,860,000. Nationwide Fund Advisors raised its position in shares of Joy Global by 224.6% in the fourth quarter. Nationwide Fund Advisors now owns 155,818 shares of the company’s stock valued at $1,965,000 after buying an additional 107,822 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Joy Global during the fourth quarter valued at about $2,052,000.
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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