Analysts expect Terex Co. (NYSE:TEX) to post sales of $1.11 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Terex’s earnings, with the lowest sales estimate coming in at $1.04 billion and the highest estimate coming in at $1.15 billion. Terex posted sales of $1.01 billion during the same quarter last year, which suggests a positive year over year growth rate of 9.9%. The business is expected to report its next earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that Terex will report full year sales of $1.11 billion for the current year, with estimates ranging from $4.66 billion to $4.85 billion. For the next fiscal year, analysts forecast that the business will report sales of $5.07 billion per share, with estimates ranging from $4.96 billion to $5.17 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Terex.
Terex (NYSE:TEX) last announced its earnings results on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $999.18 million. Terex had a return on equity of 8.80% and a net margin of 2.95%.
Several research firms have commented on TEX. Zacks Investment Research downgraded shares of Terex from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Morgan Stanley began coverage on shares of Terex in a research note on Friday, March 2nd. They issued an “equal weight” rating and a $45.00 price target for the company. Robert W. Baird downgraded shares of Terex from an “outperform” rating to a “neutral” rating and set a $42.00 price target for the company. in a research note on Friday, March 2nd. TheStreet downgraded shares of Terex from a “b” rating to a “c” rating in a research note on Wednesday, February 14th. Finally, Credit Suisse Group lowered their target price on shares of Terex from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.27.
Terex stock opened at $38.83 on Monday. The company has a market cap of $3,145.23, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 0.96 and a beta of 1.76. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.30 and a quick ratio of 1.36. Terex has a 12 month low of $28.67 and a 12 month high of $50.17.
Terex announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 7th that allows the company to repurchase $325.00 million in shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Friday, March 9th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from Terex’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, March 8th. Terex’s dividend payout ratio is presently 29.63%.
In other news, insider Matthew Fearon sold 30,306 shares of the company’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $39.48, for a total value of $1,196,480.88. Following the completion of the sale, the insider now directly owns 114,664 shares of the company’s stock, valued at $4,526,934.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Eric I. Cohen sold 10,121 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $49.90, for a total transaction of $505,037.90. Following the completion of the sale, the vice president now directly owns 185,897 shares of the company’s stock, valued at $9,276,260.30. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 1,044 shares of company stock valued at $44,621 and sold 49,411 shares valued at $2,090,346. 2.50% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in TEX. Sei Investments Co. raised its holdings in shares of Terex by 52.9% in the third quarter. Sei Investments Co. now owns 5,812 shares of the industrial products company’s stock valued at $262,000 after buying an additional 2,012 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Terex by 2.4% in the third quarter. New York State Common Retirement Fund now owns 230,125 shares of the industrial products company’s stock valued at $10,360,000 after buying an additional 5,500 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Terex in the third quarter valued at about $275,000. Macquarie Group Ltd. raised its holdings in shares of Terex by 17.9% in the third quarter. Macquarie Group Ltd. now owns 78,403 shares of the industrial products company’s stock valued at $3,530,000 after buying an additional 11,900 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Terex by 450.2% in the third quarter. Pacer Advisors Inc. now owns 4,446 shares of the industrial products company’s stock valued at $200,000 after buying an additional 3,638 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.
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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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