Terex (NYSE:TEX) declared that its Board of Directors has initiated a stock buyback program, which allows the company to buyback $325.00 million in shares on Wednesday, February 7th, EventVestor reports. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Terex (TEX) opened at $41.03 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.53 and a current ratio of 2.30. Terex has a 52-week low of $28.67 and a 52-week high of $50.17. The firm has a market cap of $3,450.62, a PE ratio of 29.52, a P/E/G ratio of 0.99 and a beta of 1.71.
Terex (NYSE:TEX) last issued its earnings results on Wednesday, February 14th. The industrial products company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.08. Terex had a net margin of 2.95% and a return on equity of 8.80%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $999.18 million. analysts anticipate that Terex will post 2.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Friday, March 9th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, March 8th. This is an increase from Terex’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. Terex’s payout ratio is 23.70%.
Several brokerages recently issued reports on TEX. Barclays began coverage on shares of Terex in a report on Tuesday, December 12th. They set an “equal weight” rating and a $50.00 target price for the company. ValuEngine cut shares of Terex from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research cut shares of Terex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 20th. Credit Suisse Group dropped their price target on shares of Terex from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, OTR Global upgraded shares of Terex to a “positive” rating in a research report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $46.07.
In other Terex news, VP Mark I. Clair sold 3,014 shares of Terex stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $45.53, for a total transaction of $137,227.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Eric I. Cohen sold 10,121 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $49.90, for a total transaction of $505,037.90. Following the completion of the sale, the vice president now directly owns 185,897 shares in the company, valued at $9,276,260.30. The disclosure for this sale can be found here. Insiders have acquired 987 shares of company stock worth $44,638 over the last ninety days. 2.50% of the stock is owned by insiders.
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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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