Stock Mover of the Day: Joy Global Inc (NYSE:JOY) Stock Price Down as Sentiment Worsens

November 29, 2016 - By Winifred Garcia   ·   0 Comments

Stock Mover of the Day: Joy Global Inc (NYSE:JOY) Stock Price Down as Sentiment  Worsens

Sentiment for Joy Global Inc (NYSE:JOY)

Joy Global Inc (NYSE:JOY) institutional sentiment decreased to 0.83 in 2016 Q2. Its down -0.08, from 0.91 in 2016Q1. The ratio dropped, as 117 investment professionals increased and opened new holdings, while 128 reduced and sold holdings in Joy Global Inc. The investment professionals in our partner’s database now have: 100.17 million shares, down from 100.76 million shares in 2016Q1. Also, the number of investment professionals holding Joy Global Inc in their top 10 holdings increased from 3 to 4 for an increase of 1. Sold All: 53 Reduced: 75 Increased: 76 New Position: 41.

Joy Global Inc. is a manufacturer and servicer of mining equipment for the extraction of metals and minerals. The company has a market cap of $2.75 billion. The Firm makes and markets original equipment and parts, and performs services for both underground and surface mining, as well as certain industrial applications. It currently has negative earnings. The Company’s equipment is used in mining regions to mine coal, copper, iron ore, oil sands, gold, and other minerals and ores.

The stock decreased 0.18% or $0.05 during the last trading session, hitting $28.02. Joy Global Inc. (NYSE:JOY) has risen 36.28% since April 26, 2016 and is uptrending. It has outperformed by 31.02% the S&P500.

Analysts await Joy Global Inc. (NYSE:JOY) to report earnings on December, 21. They expect $0.18 EPS, down 58.14% or $0.25 from last year’s $0.43 per share. JOY’s profit will be $17.67 million for 38.92 P/E if the $0.18 EPS becomes a reality. After $0.10 actual EPS reported by Joy Global Inc. for the previous quarter, Wall Street now forecasts 80.00% EPS growth.

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)”

Joy Global Inc. (NYSE:JOY) Ratings Coverage

Ratings analysis reveals 10% of Joy Global Inc.’s analysts are positive. Out of 20 Wall Street analysts rating Joy Global Inc., 2 give it “Buy”, 3 “Sell” rating, while 15 recommend “Hold”. The lowest target is $8 while the high is $36. The stock’s average target of $19.69 is -29.73% below today’s ($28.02) share price. JOY was included in 32 notes of analysts from July 21, 2015. The firm earned “Sector Perform” rating on Friday, September 4 by RBC Capital Markets. The company was maintained on Sunday, September 6 by Deutsche Bank. The stock of Joy Global Inc. (NYSE:JOY) has “Hold” rating given on Thursday, September 3 by Jefferies. The firm earned “Mkt Perform” rating on Monday, December 21 by FBR Capital. The firm has “Equal-Weight” rating given on Friday, June 3 by Morgan Stanley. The stock of Joy Global Inc. (NYSE:JOY) earned “Underperform” rating by Bank of America on Tuesday, December 1. The rating was initiated by Barclays Capital with “Equal-Weight” on Friday, September 25. The firm has “Sell” rating given on Monday, January 4 by UBS. The rating was upgraded by Bank of America on Monday, April 18 to “Neutral”. The firm earned “Buy” rating on Friday, August 14 by Canaccord Genuity.

JOY Company Profile

Joy Global Inc. incorporated on September 17, 1986, is a maker and servicer of high productivity mining equipment for the extraction of coal and other minerals and ores. The Firm makes and market original equipment and aftermarket parts and services for both underground and surface mining and certain industrial applications. 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. The Firm operates in two business divisions: Underground Mining Machinery and Surface Mining Equipment. The Firm is a maker of underground mining machinery for the extraction of coal and other bedded minerals and offer service locations near major mining regions worldwide. The Firm is a major producer of surface mining equipment for the extraction of ores and minerals and we provide extensive operational support for many types of equipment used in surface mining. The Company’s manufacturing facilities are located in the United States, including facilities in Pennsylvania, Wisconsin, Texas and Alabama, and internationally, including facilities in China, the United Kingdom, South Africa and Australia.

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By Winifred Garcia


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