Brokerages expect Terex Corporation (NYSE:TEX) to report sales of $1.03 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Terex Corporation’s earnings, with estimates ranging from $1.00 billion to $1.05 billion. Terex Corporation posted sales of $1.06 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 2.8%. The company is scheduled to report its next earnings report on Monday, October 30th.
On average, analysts expect that Terex Corporation will report full-year sales of $1.03 billion for the current fiscal year, with estimates ranging from $4.15 billion to $4.23 billion. For the next financial year, analysts expect that the company will post sales of $4.40 billion per share, with estimates ranging from $4.31 billion to $4.47 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Terex Corporation.
Terex Corporation (NYSE:TEX) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share.
Several research analysts have issued reports on the stock. Deutsche Bank AG downgraded shares of Terex Corporation from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $44.00 to $43.00 in a research report on Thursday. Royal Bank Of Canada reissued a “hold” rating and set a $38.00 price objective on shares of Terex Corporation in a research report on Wednesday, September 13th. OTR Global downgraded shares of Terex Corporation to a “positive” rating in a research report on Wednesday, September 13th. BMO Capital Markets reissued a “hold” rating and set a $35.00 price objective on shares of Terex Corporation in a research report on Monday, August 21st. Finally, UBS AG reissued a “buy” rating and set a $44.00 price objective (up from $40.00) on shares of Terex Corporation in a research report on Tuesday, August 8th. Four analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Terex Corporation has a consensus rating of “Hold” and an average price target of $37.93.
In related news, insider Kevin A. Barr sold 2,682 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $43.05, for a total value of $115,460.10. Following the completion of the sale, the insider now owns 126,762 shares in the company, valued at $5,457,104.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin Bradley sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $37.30, for a total transaction of $111,900.00. Following the completion of the sale, the senior vice president now owns 51,612 shares of the company’s stock, valued at approximately $1,925,127.60. The disclosure for this sale can be found here. In the last quarter, insiders purchased 4,202 shares of company stock valued at $159,449 and sold 102,675 shares valued at $4,063,899. 2.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TEX. Sei Investments Co. lifted its stake in shares of Terex Corporation by 19.5% in the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 619 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Terex Corporation by 7.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 403 shares during the period. US Bancorp DE lifted its stake in shares of Terex Corporation by 9.3% in the first quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 510 shares during the period. Clear Perspective Advisors LLC acquired a new stake in shares of Terex Corporation in the second quarter valued at about $198,000. Finally, National Planning Corp acquired a new stake in shares of Terex Corporation in the second quarter valued at about $209,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.
Terex Corporation (TEX) traded down 1.06% on Thursday, reaching $42.96. 1,175,033 shares of the company were exchanged. The stock has a 50-day moving average price of $39.31 and a 200 day moving average price of $35.38. The stock’s market capitalization is $3.84 billion. Terex Corporation has a 52 week low of $21.88 and a 52 week high of $44.80.
Terex Corporation announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 30th that authorizes the company to repurchase $280.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 8.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Monday, August 7th. Terex Corporation’s dividend payout ratio (DPR) is -50.79%.
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About Terex Corporation
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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