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.
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.
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