Jefferies Group reiterated their hold rating on shares of Joy Global (NYSE:JOY) in a research note released on Thursday morning, Analyst Ratings.Net reports. They currently have a $47.00 target price on the stock, down from their previous target price of $60.00.
“We maintain our Hold rating as we believe forecasts will continue to be reset lower to better match the multi-year, double-digit declines in miner capital spend. Based on the current order rates we are lowering our 2014/2015 revenue outlooks; offset partially by share repurchases starting in F2014. We believe a meaningful upturn before 2016 is unlikely.,” Jefferies Group’s analyst commented.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a hold rating on shares of Joy Global in a research note to investors on Tuesday, July 16th. Separately, analysts at Zacks reiterated a neutral rating on shares of Joy Global in a research note to investors on Thursday, July 11th. They now have a $52.00 price target on the stock.
One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Joy Global currently has an average rating of Hold and a consensus price target of $65.09.
Shares of Joy Global (NYSE:JOY) opened at 49.12 on Thursday. Joy Global has a 1-year low of $47.83 and a 1-year high of $69.19. The stock’s 50-day moving average is $50.54 and its 200-day moving average is $54.95. The company has a market cap of $5.230 billion and a price-to-earnings ratio of 7.29.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.18 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, August 30th.
Joy Global Inc is a manufacturer and servicer of high productivity mining equipment for the extraction of coal and other minerals and ores.
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