Terex Co. (NYSE:TEX) – Equities research analysts at Seaport Global Securities boosted their Q2 2018 earnings per share estimates for shares of Terex in a report released on Tuesday. Seaport Global Securities analyst M. Shlisky now anticipates that the industrial products company will post earnings per share of $0.90 for the quarter, up from their prior estimate of $0.85. Seaport Global Securities also issued estimates for Terex’s Q3 2018 earnings at $0.75 EPS, Q4 2018 earnings at $0.48 EPS and FY2018 earnings at $2.48 EPS.
Terex (NYSE:TEX) last issued its earnings results on Wednesday, February 14th. The industrial products company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.25 by $0.08. Terex had a return on equity of 8.80% and a net margin of 2.95%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $999.18 million.
TEX has been the topic of several other reports. KeyCorp reissued a “hold” rating on shares of Terex in a report on Wednesday, November 1st. Bank of America lowered their price target on Terex from $42.00 to $40.00 and set an “underperform” rating on the stock in a report on Wednesday, November 8th. OTR Global raised Terex to a “positive” rating in a report on Tuesday, December 5th. Zacks Investment Research cut Terex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, Credit Suisse Group decreased their target price on Terex from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $46.00.
Terex (TEX) opened at $42.24 on Wednesday. The firm has a market capitalization of $3,323.43, a price-to-earnings ratio of 31.29, a PEG ratio of 0.99 and a beta of 1.71. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.53 and a current ratio of 2.30. Terex has a twelve month low of $28.67 and a twelve month high of $50.17.
Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its position in Terex by 4.7% in the second quarter. PNC Financial Services Group Inc. now owns 5,825 shares of the industrial products company’s stock worth $220,000 after acquiring an additional 262 shares in the last quarter. Cowen Inc. purchased a new position in shares of Terex during the third quarter valued at approximately $675,000. Cubist Systematic Strategies LLC purchased a new position in shares of Terex during the third quarter valued at approximately $499,000. Oakbrook Investments LLC purchased a new position in shares of Terex during the third quarter valued at approximately $320,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Terex during the third quarter valued at approximately $677,000. Hedge funds and other institutional investors own 94.09% of the company’s stock.
In other news, VP Eric I. Cohen sold 10,121 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $49.90, for a total transaction of $505,037.90. Following the completion of the transaction, the vice president now owns 185,897 shares in the company, valued at $9,276,260.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 987 shares of company stock valued at $44,638. Company insiders own 2.50% of the company’s stock.
Terex declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 7th that allows the company to buyback $325.00 million in shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Friday, March 9th will be given a dividend of $0.10 per share. This is a positive change from Terex’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, March 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.95%. Terex’s dividend payout ratio (DPR) is presently 23.70%.
Terex 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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