Zacks: Analysts Anticipate Terex Co. (NYSE:TEX) Will Post Quarterly Sales of $1.32 Billion

Analysts expect Terex Co. (NYSE:TEX) to post $1.32 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Terex’s earnings. The lowest sales estimate is $1.29 billion and the highest is $1.35 billion. Terex posted sales of $1.40 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 5.7%. The business is expected to announce its next earnings report after the market closes on Tuesday, July 30th.

On average, analysts expect that Terex will report full year sales of $4.69 billion for the current year, with estimates ranging from $4.64 billion to $4.72 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.64 billion, with estimates ranging from $4.45 billion to $4.88 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Terex.

Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.30. Terex had a negative net margin of 0.06% and a positive return on equity of 25.38%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis.

TEX has been the subject of several recent analyst reports. Evercore ISI reiterated an “in-line” rating and issued a $31.00 target price (down previously from $40.00) on shares of Terex in a research note on Friday, May 31st. Bank of America set a $54.00 target price on shares of Fortis and gave the stock a “buy” rating in a research note on Thursday, May 2nd. TheStreet upgraded shares of Exantas Capital from a “d+” rating to a “c” rating in a research note on Thursday, May 2nd. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, UBS Group set a $36.00 target price on shares of Halliburton and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $34.50.

Shares of NYSE TEX traded down $0.02 during trading on Monday, hitting $30.68. The stock had a trading volume of 724,800 shares, compared to its average volume of 1,060,468. Terex has a 12 month low of $25.47 and a 12 month high of $44.82. The company has a quick ratio of 1.41, a current ratio of 2.27 and a debt-to-equity ratio of 2.01. The firm has a market capitalization of $2.18 billion, a P/E ratio of 11.32, a PEG ratio of 0.86 and a beta of 1.77. The company’s fifty day moving average price is $29.58.

In related news, Director International Master F. Marcato sold 1,600,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $27.31, for a total transaction of $43,696,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have purchased 1,581 shares of company stock valued at $46,020. 4.00% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its holdings in Terex by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 26,264 shares of the industrial products company’s stock valued at $825,000 after purchasing an additional 354 shares during the last quarter. American International Group Inc. lifted its holdings in Terex by 0.3% during the fourth quarter. American International Group Inc. now owns 132,253 shares of the industrial products company’s stock valued at $3,646,000 after purchasing an additional 357 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in Terex by 1.4% during the fourth quarter. Natixis Advisors L.P. now owns 32,407 shares of the industrial products company’s stock valued at $893,000 after purchasing an additional 442 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Terex by 0.4% during the fourth quarter. Nordea Investment Management AB now owns 126,963 shares of the industrial products company’s stock valued at $3,500,000 after purchasing an additional 472 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Terex by 1.2% during the second quarter. Commonwealth Equity Services LLC now owns 45,333 shares of the industrial products company’s stock valued at $1,423,000 after purchasing an additional 529 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.

Terex Company Profile

Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.

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Earnings History and Estimates for Terex (NYSE:TEX)

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