Wall Street brokerages expect Terex Co. (NYSE:TEX) to report earnings of $1.33 per share for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Terex’s earnings, with the lowest EPS estimate coming in at $1.25 and the highest estimate coming in at $1.46. Terex posted earnings of $0.98 per share in the same quarter last year, which indicates a positive year over year growth rate of 35.7%. The company is scheduled to announce its next quarterly earnings report on Tuesday, July 30th.
According to Zacks, analysts expect that Terex will report full year earnings of $4.03 per share for the current financial year, with EPS estimates ranging from $3.81 to $4.23. For the next financial year, analysts forecast that the firm will report earnings of $4.06 per share, with EPS estimates ranging from $3.50 to $4.75. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Terex.
Terex (NYSE:TEX) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.57 by $0.30. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Terex had a negative net margin of 0.06% and a positive return on equity of 25.38%. Terex’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share.
Several brokerages recently commented on TEX. Bank of America reaffirmed an “underperform” rating and set a $28.00 price objective (down previously from $33.00) on shares of Terex in a research note on Thursday, May 2nd. Evercore ISI reaffirmed an “in-line” rating and set a $31.00 price objective (down previously from $40.00) on shares of Terex in a research note on Friday, May 31st. TheStreet raised shares of Terex from a “c” rating to a “b-” rating in a research note on Thursday, May 2nd. Zacks Investment Research cut shares of Terex from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Morgan Stanley set a $37.00 price objective on shares of Terex and gave the company a “hold” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $35.92.
NYSE:TEX traded up $0.28 during mid-day trading on Thursday, hitting $31.03. 45,300 shares of the stock traded hands, compared to its average volume of 1,006,624. The firm’s 50-day moving average is $28.87. The company has a market cap of $2.21 billion, a P/E ratio of 11.43, a PEG ratio of 0.87 and a beta of 1.72. Terex has a 12-month low of $25.47 and a 12-month high of $45.47. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.41 and a current ratio of 2.27.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Friday, June 7th were paid a $0.11 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.44 dividend on an annualized basis and a yield of 1.42%. Terex’s dividend payout ratio is presently 16.24%.
In other Terex news, Director International Master F. Marcato sold 1,100,000 shares of the business’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $31.54, for a total value of $34,694,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director International Master F. Marcato sold 1,600,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $27.31, for a total transaction of $43,696,000.00. The disclosure for this sale can be found here. In the last three months, insiders acquired 1,747 shares of company stock valued at $53,558. Corporate insiders own 4.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in TEX. American International Group Inc. raised its holdings in Terex by 0.3% in the 4th quarter. American International Group Inc. now owns 132,253 shares of the industrial products company’s stock worth $3,646,000 after purchasing an additional 357 shares in the last quarter. Natixis Advisors L.P. grew its position in shares of Terex by 1.4% in the 4th quarter. Natixis Advisors L.P. now owns 32,407 shares of the industrial products company’s stock worth $893,000 after buying an additional 442 shares during the period. Nordea Investment Management AB grew its position in shares of Terex by 0.4% in the 4th quarter. Nordea Investment Management AB now owns 126,963 shares of the industrial products company’s stock worth $3,500,000 after buying an additional 472 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Terex by 1.8% in the 4th quarter. Great West Life Assurance Co. Can now owns 39,521 shares of the industrial products company’s stock worth $1,011,000 after buying an additional 683 shares during the period. Finally, Raymond James & Associates grew its position in shares of Terex by 2.6% in the 4th quarter. Raymond James & Associates now owns 30,894 shares of the industrial products company’s stock worth $852,000 after buying an additional 769 shares during the period. 90.80% of the stock is 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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