Brokers Issue Forecasts for Terex Corporation’s FY2017 Earnings (TEX)
Terex Corporation (NYSE:TEX) – Equities research analysts at Jefferies Group lifted their FY2017 EPS estimates for Terex Corporation in a research report issued to clients and investors on Wednesday. Jefferies Group analyst S. Volkmann now expects that the industrial products company will earn $1.25 per share for the year, up from their previous estimate of $1.10. Jefferies Group also issued estimates for Terex Corporation’s Q4 2017 earnings at $0.21 EPS, Q2 2018 earnings at $0.75 EPS, Q3 2018 earnings at $0.65 EPS, Q4 2018 earnings at $0.50 EPS and FY2018 earnings at $2.05 EPS.
TEX has been the subject of a number of other reports. BMO Capital Markets reissued a “hold” rating and issued a $35.00 price target on shares of Terex Corporation in a research report on Monday, August 21st. Citigroup Inc increased their price target on Terex Corporation from $39.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, October 13th. Deutsche Bank AG set a $44.00 price target on Terex Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating and issued a $38.00 price target on shares of Terex Corporation in a research report on Wednesday, September 13th. Finally, UBS Group AG (USA) set a $52.00 price target on Terex Corporation and gave the company a “buy” rating in a research report on Wednesday, October 11th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $41.43.
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Shares of Terex Corporation (TEX) opened at $46.16 on Thursday. The stock has a market cap of $3,812.25, a P/E ratio of 40.12, a price-to-earnings-growth ratio of 3.13 and a beta of 1.89. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.42 and a quick ratio of 1.46.
Terex Corporation (NYSE:TEX) last issued its earnings results on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.14. Terex Corporation had a positive return on equity of 7.01% and a negative net margin of 2.62%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned $0.19 EPS. Terex Corporation’s quarterly revenue was up 5.2% compared to the same quarter last year.
Terex Corporation declared that its Board of Directors has approved a stock repurchase program on Wednesday, September 6th that authorizes the company to repurchase $225.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Thursday, November 9th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, November 8th. Terex Corporation’s dividend payout ratio is presently -37.21%.
In related news, insider Kevin A. Barr sold 11,000 shares of Terex Corporation stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $38.63, for a total value of $424,930.00. Following the completion of the sale, the insider now owns 127,653 shares of the company’s stock, valued at approximately $4,931,235.39. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Brian J. Henry sold 10,154 shares of Terex Corporation stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $40.00, for a total value of $406,160.00. Following the completion of the sale, the senior vice president now directly owns 313,263 shares of the company’s stock, valued at approximately $12,530,520. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 3,881 shares of company stock valued at $150,935 and have sold 83,679 shares valued at $3,397,910. Company insiders own 2.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. increased its holdings in Terex Corporation by 208.0% in the 3rd quarter. Prudential Financial Inc. now owns 835,582 shares of the industrial products company’s stock worth $37,618,000 after acquiring an additional 564,300 shares during the last quarter. IndexIQ Advisors LLC increased its holdings in Terex Corporation by 83.2% in the 3rd quarter. IndexIQ Advisors LLC now owns 27,603 shares of the industrial products company’s stock worth $1,243,000 after acquiring an additional 12,539 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in Terex Corporation by 184.0% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 233,391 shares of the industrial products company’s stock worth $10,507,000 after acquiring an additional 151,207 shares during the last quarter. BT Investment Management Ltd increased its holdings in Terex Corporation by 23.7% in the 3rd quarter. BT Investment Management Ltd now owns 33,520 shares of the industrial products company’s stock worth $1,509,000 after acquiring an additional 6,428 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new stake in Terex Corporation in the 3rd quarter worth about $421,000. 97.72% of the stock is owned by institutional investors.
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.
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