Terex Corporation (TEX) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Terex Corporation (NYSE:TEX) have been assigned a consensus recommendation of “Hold” from the twenty analysts that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $37.07.
TEX has been the subject of a number of recent research reports. Credit Suisse Group set a $45.00 target price on Terex Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. Zacks Investment Research raised Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Thursday, July 13th. Wells Fargo & Company reissued an “outperform” rating and set a $41.00 target price (up from $38.50) on shares of Terex Corporation in a research note on Monday, June 19th. Goldman Sachs Group, Inc. (The) cut Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Thursday, June 15th. Finally, Bank of America Corporation cut Terex Corporation from a “neutral” rating to an “underperform” rating and boosted their target price for the company from $29.00 to $33.00 in a research note on Thursday, May 11th.
Terex Corporation (TEX) traded up 0.47% during midday trading on Friday, reaching $38.08. 2,369,051 shares of the company traded hands. Terex Corporation has a one year low of $21.88 and a one year high of $40.24. The firm’s market capitalization is $3.40 billion. The firm has a 50-day moving average price of $37.91 and a 200-day moving average price of $33.87.
Terex Corporation (NYSE:TEX) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. Equities analysts predict that Terex Corporation will post $1.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Wednesday, August 9th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a yield of 0.84%. Terex Corporation’s dividend payout ratio is currently -50.79%.
Terex Corporation announced that its Board of Directors has approved a share buyback program on Tuesday, May 30th that permits the company to buyback $280.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 8.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.
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In other Terex Corporation news, insider Kevin A. Barr sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $38.92, for a total transaction of $583,800.00. Following the completion of the sale, the insider now directly owns 143,304 shares in the company, valued at approximately $5,577,391.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Brian J. Henry sold 7,512 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $33.48, for a total value of $251,501.76. Following the sale, the senior vice president now owns 322,993 shares of the company’s stock, valued at $10,813,805.64. The disclosure for this sale can be found here. In the last three months, insiders bought 1,224 shares of company stock valued at $44,403 and sold 97,508 shares valued at $3,510,771. Insiders own 2.50% of the company’s stock.
A number of large investors have recently bought and sold shares of TEX. Sei Investments Co. raised its stake in Terex Corporation by 19.5% in the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after buying an additional 619 shares during the period. PNC Financial Services Group Inc. boosted its position in Terex Corporation by 7.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock worth $175,000 after buying an additional 403 shares in the last quarter. US Bancorp DE boosted its position in Terex Corporation by 9.3% in the first quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock worth $188,000 after buying an additional 510 shares in the last quarter. National Planning Corp acquired a new position in Terex Corporation during the second quarter worth approximately $209,000. Finally, CIBC World Markets Inc. acquired a new position in Terex Corporation during the second quarter worth approximately $210,000. Institutional investors own 90.94% of the company’s stock.
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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