Terex Corporation Forecasted to Earn Q3 2017 Earnings of $0.38 Per Share (NYSE:TEX)

Terex Corporation (NYSE:TEX) – Investment analysts at KeyCorp upped their Q3 2017 EPS estimates for Terex Corporation in a note issued to investors on Wednesday. KeyCorp analyst S. Barger now expects that the industrial products company will earn $0.38 per share for the quarter, up from their prior forecast of $0.25. KeyCorp also issued estimates for Terex Corporation’s Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $1.19 EPS, Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.83 EPS and FY2018 earnings at $2.14 EPS.

A number of other research firms have also recently commented on TEX. Bank of America Corporation cut shares of Terex Corporation from a “neutral” rating to an “underperform” rating and increased their price target for the company from $29.00 to $33.00 in a report on Thursday, May 11th. Royal Bank Of Canada reiterated a “hold” rating and set a $33.00 price target on shares of Terex Corporation in a report on Wednesday, April 26th. Zacks Investment Research upgraded shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Thursday, July 13th. Barclays PLC increased their price target on shares of Terex Corporation from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Wednesday, April 19th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $41.00 price target (up previously from $38.50) on shares of Terex Corporation in a report on Monday, June 19th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Terex Corporation has a consensus rating of “Hold” and an average price target of $35.94.

TRADEMARK VIOLATION WARNING: “Terex Corporation Forecasted to Earn Q3 2017 Earnings of $0.38 Per Share (NYSE:TEX)” was originally posted by BNB Daily and is the property of of BNB Daily. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://www.baseball-news-blog.com/2017/08/19/terex-corporation-forecasted-to-earn-q3-2017-earnings-of-0-38-per-share-nysetex-updated.html.

Terex Corporation (NYSE:TEX) opened at 39.19 on Monday. The stock has a 50 day moving average price of $37.34 and a 200-day moving average price of $33.55. Terex Corporation has a 52 week low of $21.88 and a 52 week high of $39.99. The stock’s market cap is $3.75 billion.

Terex Corporation (NYSE:TEX) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s revenue was down 8.9% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Monday, August 7th. Terex Corporation’s dividend payout ratio is presently -50.79%.

Terex Corporation announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 30th that permits the company to buyback $280.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 8.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, SVP Brian J. Henry sold 7,512 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $33.48, for a total transaction of $251,501.76. Following the sale, the senior vice president now directly owns 322,993 shares in the company, valued at approximately $10,813,805.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin Bradley sold 20,000 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $32.56, for a total transaction of $651,200.00. Following the sale, the senior vice president now owns 79,612 shares in the company, valued at $2,592,166.72. The disclosure for this sale can be found here. In the last quarter, insiders have bought 1,224 shares of company stock worth $44,403 and have sold 86,508 shares worth $3,085,841. Company insiders own 2.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. M&T Bank Corp increased its stake in shares of Terex Corporation by 1.5% in the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock valued at $279,000 after buying an additional 130 shares during the last quarter. Liberty Mutual Group Asset Management Inc. increased its stake in shares of Terex Corporation by 0.4% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 47,951 shares of the industrial products company’s stock valued at $1,506,000 after buying an additional 170 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Terex Corporation by 1.5% in the second quarter. Capstone Asset Management Co. now owns 14,468 shares of the industrial products company’s stock valued at $543,000 after buying an additional 220 shares during the last quarter. Creative Planning increased its stake in shares of Terex Corporation by 3.4% in the first quarter. Creative Planning now owns 9,221 shares of the industrial products company’s stock valued at $290,000 after buying an additional 307 shares during the last quarter. Finally, Mirador Capital Partners LP increased its stake in shares of Terex Corporation by 4.5% in the second quarter. Mirador Capital Partners LP now owns 9,118 shares of the industrial products company’s stock valued at $360,000 after buying an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Terex Corporation Company Profile

Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.

Earnings History and Estimates for Terex Corporation (NYSE:TEX)

Receive News & Ratings for Terex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply