Terex Corp. (NYSE:TEX) Receives Average Rating of “Hold” from Analysts
Shares of Terex Corp. (NYSE:TEX) have earned an average rating of “Hold” from the seventeen brokerages that are covering the firm. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $23.82.
A number of equities analysts have commented on TEX shares. Evercore ISI lowered Terex Corp. from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $31.00 to $21.00 in a research note on Friday, May 27th. Morgan Stanley lowered Terex Corp. from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $26.00 to $21.00 in a research note on Tuesday, May 31st. They noted that the move was a valuation call. Jefferies Group decreased their price target on Terex Corp. from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, May 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $25.00 price target (down previously from $30.00) on shares of Terex Corp. in a research note on Tuesday, May 31st. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $27.00 price target on shares of Terex Corp. in a research note on Wednesday, June 8th.
Terex Corp. (NYSE:TEX) traded up 0.88% during midday trading on Wednesday, reaching $24.01. The company had a trading volume of 224,070 shares. The stock has a 50-day moving average price of $24.11 and a 200 day moving average price of $23.10. Terex Corp. has a 12-month low of $13.62 and a 12-month high of $25.57. The company has a market capitalization of $2.61 billion, a PE ratio of 48.60 and a beta of 3.12.
Terex Corp. (NYSE:TEX) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.10. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the company earned $0.78 EPS. The company’s revenue was down 10.1% on a year-over-year basis. Equities analysts forecast that Terex Corp. will post $0.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Wednesday, August 10th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Monday, August 8th. Terex Corp.’s dividend payout ratio is 57.14%.
In other news, CAO Mark I. Clair sold 7,489 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $24.23, for a total value of $181,458.47. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steve Filipov sold 8,929 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $24.20, for a total value of $216,081.80. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC increased its position in shares of Terex Corp. by 49.1% in the second quarter. Pzena Investment Management LLC now owns 7,164,504 shares of the company’s stock worth $145,511,000 after buying an additional 2,359,735 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Terex Corp. by 2,882.0% in the second quarter. Prudential Financial Inc. now owns 1,992,054 shares of the company’s stock worth $40,459,000 after buying an additional 1,925,252 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Terex Corp. by 105.3% in the second quarter. TIAA CREF Investment Management LLC now owns 3,191,643 shares of the company’s stock worth $64,822,000 after buying an additional 1,636,964 shares in the last quarter. Norges Bank acquired a new position in shares of Terex Corp. during the fourth quarter worth about $21,924,000. Finally, Schroder Investment Management Group acquired a new position in shares of Terex Corp. during the second quarter worth about $23,860,000. 81.01% of the stock is currently owned by institutional investors.
About Terex Corp.
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.
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