Analysis: Joy Global Inc (NYSE:JOY) Target Change Today
In an analyst note issued to investors and clients by JP Morgan on 11 December, the firm, Joy Global Inc (NYSE:JOY), had their PT downgraded to $10.00. Analusts currently have a solid Neutral rating on the stock.
From a total of 20 analysts covering Joy Global Inc. (NYSE:JOY) stock, 7 rate it a ”Buy”, 3 a “Sell”, and 14 a ”Hold”. This means that 29% of the ratings are positive. The highest target price is $36 while the lowest target price is $8. The mean of all analyst targets is $20.32 with a 93.28% above today’s ($11.9) stock price. Joy Global Inc. was the topic of 18 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Bank of America downgraded shares on December 1 to “Underperform” rating. UBS maintained shares with “Neutral” rating and $20.0 target share price in a report from a September 4. Avondale initiated JOY stock in a recent report from October 15 with “Market Perform” rating. RBC Capital Markets maintained the rating on September 4. RBC Capital Markets has a “Sector Perform” rating and a $23 price target on shares. Finally, FBR Capital initiated the stock with “Underperform” rating in a report issued on a September 18.
Approximately 1.41 million shares of stock traded hands. Joy Global Inc. (NYSE:JOY) has declined 70.38% since May 8, 2015 and is downtrending. It has underperformed by 67.36% the S&P500.
Analysts await Joy Global Inc. (NYSE:JOY) to reports earnings on December, 16. They expect $0.42 earnings per share, down 66.40% or $0.83 from last year’s $1.25 per share. JOY’s profit will be $42.35M for 7.08 P/E if the $0.42 EPS becomes reality. After $0.54 actual earnings per share reported by Joy Global Inc. for the previous quarter, Wall Street now forecasts -22.22% negative EPS growth.
Joy Global Inc. is a manufacturer and servicer of high productivity mining equipment for the extraction of coal and other minerals and ores. The company has a market cap of $1.20 billion. The Firm makes and market original equipment and aftermarket parts and services for both underground and surface mining and certain industrial applications. It has 4.81 P/E ratio. The Company’s equipment is used in major mining regions throughout the world to mine coal, copper, iron ore, oil sands, gold and other minerals.
According to Zacks Investment Research, “Joy Global Inc. is a worldwide leader in manufacturing, servicing and distributing equipment for surface mining through its P&H Mining Equipment division and underground mining through its Joy Mining Machinery division.(Press Release)” Get a free copy of the Zacks research report on Joy Global Inc. (JOY).