Terex Corporation (TEX) Earns “Hold” Rating from KeyCorp
Other analysts also recently issued research reports about the stock. TheStreet raised shares of Terex Corporation from a c rating to a b rating in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Terex Corporation from a hold rating to a buy rating and set a $51.00 price target on the stock in a report on Wednesday, October 11th. UBS AG set a $52.00 price target on shares of Terex Corporation and gave the company a buy rating in a report on Wednesday, October 11th. Deutsche Bank AG set a $44.00 price target on shares of Terex Corporation and gave the company a buy rating in a report on Thursday, August 3rd. Finally, Wells Fargo & Company set a $52.00 price target on shares of Terex Corporation and gave the company a buy rating in a report on Monday, October 16th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $41.43.
Terex Corporation (NYSE TEX) traded up $0.83 during mid-day trading on Wednesday, reaching $46.16. 1,499,910 shares of the company were exchanged, compared to its average volume of 1,121,354. The stock has a market capitalization of $3,882.06, a P/E ratio of 40.85, a P/E/G ratio of 3.18 and a beta of 1.89. Terex Corporation has a 52-week low of $22.43 and a 52-week high of $48.86. The company has a current ratio of 2.42, a quick ratio of 1.46 and a debt-to-equity ratio of 0.71.
Terex Corporation (NYSE:TEX) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.14. Terex Corporation had a negative net margin of 2.62% and a positive return on equity of 7.01%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. analysts predict that Terex Corporation will post 1.28 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This piece of content was reported by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.watchlistnews.com/terex-corporation-tex-earns-hold-rating-from-keycorp/1680997.html.
Terex Corporation declared that its board has approved a share buyback plan on Wednesday, September 6th that authorizes the company to buyback $225.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 6.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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. 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 payout ratio is currently -37.21%.
In other news, VP Eric I. Cohen sold 10,000 shares of Terex Corporation stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. Following the transaction, the vice president now owns 195,980 shares of the company’s stock, valued at approximately $8,819,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Eric I. Cohen sold 3,392 shares of Terex Corporation stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $39.23, for a total transaction of $133,068.16. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 3,881 shares of company stock worth $150,935 and have sold 83,679 shares worth $3,397,910. Corporate insiders own 2.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. boosted its holdings in shares of Terex Corporation by 208.0% during the third quarter. Prudential Financial Inc. now owns 835,582 shares of the industrial products company’s stock worth $37,618,000 after purchasing an additional 564,300 shares during the period. IndexIQ Advisors LLC lifted its stake in Terex Corporation by 83.2% in the third quarter. IndexIQ Advisors LLC now owns 27,603 shares of the industrial products company’s stock valued at $1,243,000 after acquiring an additional 12,539 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its stake in Terex Corporation by 184.0% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 233,391 shares of the industrial products company’s stock valued at $10,507,000 after acquiring an additional 151,207 shares during the last quarter. BT Investment Management Ltd lifted its stake in Terex Corporation by 23.7% in the third quarter. BT Investment Management Ltd now owns 33,520 shares of the industrial products company’s stock valued at $1,509,000 after acquiring an additional 6,428 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new stake in Terex Corporation in the third quarter valued at approximately $421,000. Institutional investors and hedge funds own 97.72% of the company’s stock.
About Terex Corporation
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.
Receive News & Ratings for Terex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.