Barclays Capital (BCS) Analysts Lower Price Target on Joy Global Inc. (JOYG) to $112.00
Friday, August 26, 2021 1:45 PM

Equities research analysts at Barclays Capital (NYSE: BCS) lowered their price target on shares of Joy Global Inc. (NASDAQ: JOYG) from $114.00 to $112.00 in a research note to investors on Friday. The analysts currently have an "overweight" rating on the stock.

Separately, analysts at William Blair initiated coverage on shares of Joy Global Inc. in a research note to investors on Tuesday, July 19th. They set a "market perform" rating and a $99.00 price target on the stock. Also, analysts at UBS AG (NYSE: UBS) raised their EPS on shares of Joy Global Inc. in a research note to investors on Friday, June 3rd. They now have a "buy" rating and a $112.00 price target on the stock.

Shares of Joy Global Inc. traded up 3.61% during mid-day trading on Monday, hitting $75.98. Joy Global Inc. has a 52 week low of $53.13 and a 52 week high of $103.44. The stock's 50-day moving average is $87.39 and its 200-day moving average is $91.35. The company has a market cap of $7.981 billion and a price-to-earnings ratio of 14.67.

Joy Global Inc. last announced its quarterly results on Thursday, June 2nd. The company reported $1.52 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.35 EPS by $0.17. The company’s quarterly revenue was up 18.6% on a year-over-year basis. On average, analysts predict that Joy Global Inc. will post $1.74 EPS next quarter.

Joy Global Inc. is a manufacturer and servicer of mining equipment for the extraction of coal and other minerals and ores. The equipment is used in the mining regions globally to mine coal, copper, iron ore, oil sands, and other minerals. The Company operates in three business segments: Underground Mining Machinery segment (Joy), Surface Mining Equipment segment (P&H) and Continental Crushing & Conveying (CCC). On November 1, 2009, the Company combined the CCC segment into the Joy operating segment. In February 2008, the Company completed the acquisition of N.E.S. Investment Co. and its wholly owned subsidiary, Continental Global Group, Inc. (Continental).

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