Seaport Global Securities Brokers Boost Earnings Estimates for Terex Corporation (TEX)

Terex Corporation (NYSE:TEX) – Stock analysts at Seaport Global Securities boosted their FY2017 earnings per share (EPS) estimates for shares of Terex Corporation in a report released on Wednesday. Seaport Global Securities analyst M. Shlisky now expects that the industrial products company will post earnings per share of $1.15 for the year, up from their prior forecast of $1.13. Seaport Global Securities also issued estimates for Terex Corporation’s Q2 2018 earnings at $0.85 EPS, Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $2.09 EPS and FY2019 earnings at $2.71 EPS.

Other research analysts also recently issued reports about the company. BMO Capital Markets restated a “hold” rating and set a $35.00 price objective on shares of Terex Corporation in a report on Thursday, July 20th. Deutsche Bank AG set a $44.00 price objective on Terex Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. UBS AG restated a “buy” rating and set a $44.00 price objective (up from $40.00) on shares of Terex Corporation in a report on Wednesday, August 2nd. TheStreet upgraded Terex Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $38.00 target price on shares of Terex Corporation in a research report on Wednesday, September 13th. Four analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $41.43.

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Shares of Terex Corporation (NYSE TEX) opened at 46.11 on Thursday. The company’s 50 day moving average price is $43.29 and its 200 day moving average price is $37.53. The company’s market capitalization is $4.12 billion. Terex Corporation has a 52-week low of $21.88 and a 52-week high of $46.68.

Terex Corporation (NYSE:TEX) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.09. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was down 8.9% compared to the same quarter last year.

Institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. raised its stake in shares of Terex Corporation by 19.5% during the 2nd quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock valued at $142,000 after buying an additional 619 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Terex Corporation by 7.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock valued at $175,000 after buying an additional 403 shares during the last quarter. Clear Perspective Advisors LLC purchased a new position in shares of Terex Corporation during the 2nd quarter valued at about $198,000. National Planning Corp purchased a new position in shares of Terex Corporation during the 2nd quarter valued at about $209,000. Finally, CIBC World Markets Inc. purchased a new position in shares of Terex Corporation during the 2nd quarter valued at about $210,000. 97.40% of the stock is owned by institutional investors.

In other Terex Corporation news, insider Kieran Hegarty sold 15,115 shares of Terex Corporation stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $43.23, for a total transaction of $653,421.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin A. Barr sold 15,000 shares of Terex Corporation stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $38.92, for a total value of $583,800.00. Following the sale, the insider now directly owns 143,304 shares of the company’s stock, valued at approximately $5,577,391.68. The disclosure for this sale can be found here. In the last three months, insiders bought 4,264 shares of company stock valued at $165,731 and sold 98,679 shares valued at $3,981,710. 2.50% of the stock is owned by company insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Thursday, November 9th will be given a $0.08 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.69%. Terex Corporation’s payout ratio is -50.79%.

Terex Corporation declared that its board has authorized a share buyback plan on Wednesday, September 6th that authorizes the company to buyback $225.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 6.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.

Earnings History and Estimates for Terex Corporation (NYSE:TEX)

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