Joy Global Inc. (JOYG) Announces Quarterly Results, Beats Estimates By $0.07 EPS
Wednesday, August 31, 2021 9:35 AM

Joy Global Inc. (JOYG) announced its quarterly results on Wednesday. The company reported $1.61 earnings per share for the quarter, beating the Thomson Reuters consensus estimate of $1.54 by $0.07. The company’s quarterly revenue was up 33.7% on a year-over-year basis.

On a related note, analysts at Barclays Capital (NYSE: BCS) cut their price target on shares of Joy Global Inc. from $114.00 to $112.00 in a research note to investors on Friday, August 26th. They now have an "overweight" rating on the stock. Also, 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.

Shares of Joy Global Inc. (JOYG) opened at 82.54 on Wednesday. Joy Global Inc. (JOYG) has a 52 week low of $55.33 and a 52 week high of $103.44. The stock's 50-day moving average is $85.95 and its 200-day moving average is $91.0. The company has a market cap of $8.670 billion and a price-to-earnings ratio of 16.48.

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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