Terex Co. (NYSE:TEX) has received a consensus recommendation of “Hold” from the twenty brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $44.93.
Several brokerages have recently issued reports on TEX. Barclays began coverage on shares of Terex in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $50.00 price objective on the stock. 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 objective on the stock. Zacks Investment Research cut shares of Terex from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. ValuEngine cut shares of Terex from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Credit Suisse Group lowered their price objective on shares of Terex from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th.
Shares of TEX stock traded down $0.98 on Friday, hitting $35.85. 1,688,911 shares of the stock traded hands, compared to its average volume of 1,955,546. The firm has a market cap of $2,983.23, a PE ratio of 26.56, a P/E/G ratio of 0.91 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 (NYSE:TEX) last announced its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $999.18 million. Terex had a net margin of 2.95% and a return on equity of 8.80%. equities research analysts forecast that Terex will post 2.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 19th. Stockholders of record on Friday, March 9th were given a $0.10 dividend. This is an increase from Terex’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, March 8th. Terex’s dividend payout ratio (DPR) is 29.63%.
Terex declared that its board has authorized a stock repurchase program on Wednesday, February 7th that permits the company to repurchase $325.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In related news, insider Steve Filipov sold 8,984 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $43.28, for a total transaction of $388,827.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Eric I. Cohen sold 10,121 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $49.90, for a total transaction of $505,037.90. Following the sale, the vice president now 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 three months, insiders bought 1,044 shares of company stock worth $44,621 and sold 49,411 shares worth $2,090,346. Company insiders own 2.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Terex by 388.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 2,028 shares during the period. Landaas & Co. WI ADV lifted its stake in Terex by 602.6% in the fourth quarter. Landaas & Co. WI ADV now owns 3,513 shares of the industrial products company’s stock valued at $169,000 after acquiring an additional 3,013 shares during the last quarter. Pacer Advisors Inc. lifted its stake in 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 acquiring an additional 3,638 shares during the last quarter. Investors Research Corp acquired a new stake in Terex in the fourth quarter valued at approximately $203,000. Finally, Invictus RG lifted its stake in Terex by 95.4% in the third quarter. Invictus RG now owns 4,618 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 2,255 shares during the last quarter. Institutional investors and hedge funds own 97.80% of the company’s stock.
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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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