Terex Corporation (NYSE:TEX) – Investment analysts at Seaport Global Securities decreased their Q3 2017 earnings per share (EPS) estimates for shares of Terex Corporation in a report issued on Wednesday. Seaport Global Securities analyst M. Shlisky now expects that the industrial products company will post earnings per share of $0.35 for the quarter, down from their previous forecast of $0.36. Seaport Global Securities also issued estimates for Terex Corporation’s Q4 2017 earnings at $0.26 EPS and Q1 2018 earnings at $0.22 EPS.
Terex Corporation (NYSE:TEX) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The business’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share.
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A number of other research analysts have also weighed in on the stock. Credit Suisse Group set a $45.00 price target on shares of Terex Corporation and gave the company a “buy” rating in a research note on Monday, June 26th. BMO Capital Markets restated a “hold” rating and set a $35.00 price target on shares of Terex Corporation in a report on Thursday, July 20th. OTR Global downgraded shares of Terex Corporation to a “positive” rating in a report on Wednesday, September 13th. Royal Bank Of Canada restated a “hold” rating and set a $38.00 price target on shares of Terex Corporation in a report on Wednesday, September 13th. Finally, Zacks Investment Research downgraded shares of Terex Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $41.43.
Shares of Terex Corporation (NYSE TEX) opened at 45.75 on Friday. Terex Corporation has a 12-month low of $21.88 and a 12-month high of $46.68. The company’s market capitalization is $4.09 billion. The firm’s 50-day moving average price is $43.49 and its 200-day moving average price is $37.59.
Several institutional investors have recently modified their holdings of the company. Capstone Asset Management Co. increased its stake in shares of Terex Corporation by 1.5% during the second quarter. Capstone Asset Management Co. now owns 14,468 shares of the industrial products company’s stock worth $543,000 after acquiring an additional 220 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Terex Corporation by 4.7% during 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 during the period. Mirador Capital Partners LP increased its stake in shares of Terex Corporation by 4.5% during the second quarter. Mirador Capital Partners LP now owns 9,118 shares of the industrial products company’s stock worth $360,000 after acquiring an additional 394 shares during the period. Advantus Capital Management Inc increased its stake in shares of Terex Corporation by 3.3% during the first quarter. Advantus Capital Management Inc now owns 13,559 shares of the industrial products company’s stock worth $426,000 after acquiring an additional 434 shares during the period. Finally, Amalgamated Bank increased its stake in shares of Terex Corporation by 3.0% during the first quarter. Amalgamated Bank now owns 16,760 shares of the industrial products company’s stock worth $526,000 after acquiring an additional 491 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.
In other news, VP Eric I. Cohen sold 10,000 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. Following the transaction, the vice president now directly owns 195,980 shares in the company, valued at $8,819,100. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Eric I. Cohen sold 3,392 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $39.23, for a total transaction of $133,068.16. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 4,264 shares of company stock worth $165,731 and sold 98,679 shares worth $3,981,710. Insiders own 2.50% of the company’s stock.
Terex Corporation declared that its Board of Directors has initiated a share repurchase program on Wednesday, September 6th that permits the company to buyback $225.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Thursday, November 9th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.70%. Terex Corporation’s dividend payout ratio is presently -50.79%.
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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