Joy Global Inc. (JOY) Stock Rating Lowered by Macquarie

Joy Global Inc. (NYSE:JOY) was downgraded by stock analysts at Macquarie from an “outperform” rating to a “neutral” rating in a note issued to investors on Wednesday, The Fly reports.

Several other brokerages also recently weighed in on JOY. Vetr raised shares of Joy Global from a “strong sell” rating to a “sell” rating and set a $19.12 price target for the company in a research report on Wednesday, June 22nd. Jefferies Group raised their price target on shares of Joy Global from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 15th. BB&T Corp. raised shares of Joy Global from an “underweight” rating to a “hold” rating in a research report on Thursday, July 21st. Barclays PLC downgraded shares of Joy Global from an “overweight” rating to an “equal weight” rating in a research report on Thursday, July 21st. Finally, BMO Capital Markets downgraded shares of Joy Global from an “outperform” rating to a “market perform” rating and raised their price target for the company from $24.00 to $28.00 in a research report on Thursday, July 21st. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have issued a buy rating to the stock. Joy Global currently has a consensus rating of “Hold” and a consensus price target of $18.73.

Analyst Recommendations for Joy Global (NYSE:JOY)

Joy Global (NYSE:JOY) traded up 0.18% during midday trading on Wednesday, hitting $27.86. The company’s stock had a trading volume of 1,997,985 shares. The firm’s market cap is $2.73 billion. Joy Global has a 12 month low of $8.35 and a 12 month high of $28.55. The company’s 50 day moving average price is $27.61 and its 200 day moving average price is $23.19.

Joy Global (NYSE:JOY) last announced its earnings results 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. Joy Global had a negative net margin of 52.93% and a positive return on equity of 2.76%. The business had revenue of $587 million for the quarter. During the same period last year, the company earned $0.59 earnings per share. The business’s quarterly revenue was down 26.0% on a year-over-year basis. Analysts expect that Joy Global will post $0.14 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were issued a $0.01 dividend. 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%.

A number of hedge funds have recently made changes to their positions in JOY. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Joy Global by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 16,942 shares of the company’s stock worth $358,000 after buying an additional 46 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of Joy Global by 1.0% in the third quarter. Capstone Asset Management Co. now owns 26,495 shares of the company’s stock worth $735,000 after buying an additional 260 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of Joy Global by 0.8% in the second quarter. State Treasurer State of Michigan now owns 39,374 shares of the company’s stock worth $832,000 after buying an additional 300 shares in the last quarter. Amalgamated Bank increased its stake in shares of Joy Global by 3.8% in the second quarter. Amalgamated Bank now owns 12,233 shares of the company’s stock worth $336,000 after buying an additional 452 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Joy Global by 1.1% in the second quarter. UBS Asset Management Americas Inc. now owns 111,612 shares of the company’s stock worth $2,360,000 after buying an additional 1,212 shares in the last quarter.

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.

5 Day Chart for NYSE:JOY

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