Terex Co. (NYSE:TEX) – Analysts at Seaport Global Securities raised their Q1 2018 earnings estimates for Terex in a report released on Tuesday. Seaport Global Securities analyst M. Shlisky now anticipates that the industrial products company will earn $0.36 per share for the quarter, up from their prior forecast of $0.19. Seaport Global Securities also issued estimates for Terex’s FY2019 earnings at $3.19 EPS.
A number of other equities analysts also recently commented on the stock. OTR Global raised shares of Terex to a “positive” rating in a research note on Tuesday, December 5th. Robert W. Baird reiterated a “buy” rating and set a $52.00 price target on shares of Terex in a research report on Thursday, December 21st. Zacks Investment Research cut shares of Terex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Barclays began coverage on shares of Terex in a research report on Tuesday, December 12th. They set an “equal weight” rating and a $50.00 price target for the company. Finally, KeyCorp reiterated a “hold” rating on shares of Terex in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Terex presently has a consensus rating of “Buy” and an average price target of $46.00.
Terex (NYSE TEX) opened at $43.70 on Thursday. 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 company has a market cap of $3,600.00, a PE ratio of 34.68, a price-to-earnings-growth ratio of 1.06 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.
Several hedge funds have recently made changes to their positions in TEX. Tower Research Capital LLC TRC grew its holdings in shares of Terex by 388.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 2,028 shares in the last quarter. Landaas & Co. WI ADV grew its holdings in shares of Terex by 602.6% in the fourth quarter. Landaas & Co. WI ADV now owns 3,513 shares of the industrial products company’s stock valued at $169,000 after purchasing an additional 3,013 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Terex by 450.2% in the third quarter. Pacer Advisors Inc. now owns 4,446 shares of the industrial products company’s stock valued at $200,000 after purchasing an additional 3,638 shares in the last quarter. Investors Research Corp acquired a new position in shares of Terex in the fourth quarter valued at approximately $203,000. Finally, Invictus RG grew its holdings in shares of Terex by 95.4% in the third quarter. Invictus RG now owns 4,618 shares of the industrial products company’s stock valued at $208,000 after purchasing an additional 2,255 shares in the last quarter. Hedge funds and other institutional investors own 94.09% of the company’s stock.
In related news, VP Eric I. Cohen sold 10,121 shares of Terex stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $49.90, for a total value of $505,037.90. Following the completion of the transaction, the vice president now owns 185,897 shares in the company, valued at $9,276,260.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 987 shares of company stock valued at $44,638 in the last 90 days. Company insiders own 2.50% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Friday, March 9th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.92%. This is a boost from Terex’s previous quarterly dividend of $0.08. Terex’s payout ratio is 25.40%.
Terex declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 7th that allows the company to repurchase $325.00 million in shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
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Terex 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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