Equities research analysts expect that Terex Corporation (NYSE:TEX) will announce earnings of $0.36 per share for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Terex Corporation’s earnings, with estimates ranging from $0.31 to $0.40. Terex Corporation posted earnings of $0.19 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 89.5%. The firm is scheduled to report its next earnings report before the market opens on Wednesday, November 1st.
On average, analysts expect that Terex Corporation will report full-year earnings of $1.16 per share for the current year, with EPS estimates ranging from $1.10 to $1.23. For the next year, analysts anticipate that the firm will post earnings of $2.06 per share, with EPS estimates ranging from $1.55 to $2.50. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Terex Corporation.
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, topping the Zacks’ consensus estimate of $0.42 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share.
TEX has been the topic of several research analyst reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Terex Corporation in a research note on Thursday, July 20th. OTR Global lowered Terex Corporation to a “positive” rating in a research note on Wednesday, September 13th. Wells Fargo & Company set a $52.00 price objective on Terex Corporation and gave the company a “buy” rating in a research note on Monday, October 16th. UBS AG set a $52.00 price objective on Terex Corporation and gave the company a “buy” rating in a research note on Wednesday, October 11th. Finally, Zacks Investment Research lowered Terex Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $41.43.
Shares of Terex Corporation (NYSE:TEX) traded down 1.286% during mid-day trading on Friday, reaching $46.425. 182,979 shares of the company’s stock were exchanged. Terex Corporation has a 52 week low of $21.88 and a 52 week high of $47.28. The stock has a 50 day moving average price of $44.69 and a 200 day moving average price of $38.22. The stock’s market cap is $4.15 billion.
Terex Corporation announced that its board has initiated a stock repurchase program on Wednesday, September 6th that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 6.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Thursday, November 9th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.68%. Terex Corporation’s payout ratio is currently -50.79%.
In other Terex Corporation news, insider Kevin A. Barr sold 15,000 shares of Terex Corporation 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 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Kieran Hegarty sold 15,115 shares of Terex Corporation stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $43.23, for a total value of $653,421.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 4,264 shares of company stock worth $165,731 and have sold 98,679 shares worth $3,981,710. 2.50% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of TEX. UBS Asset Management Americas Inc. increased its holdings in Terex Corporation by 14.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 94,264 shares of the industrial products company’s stock worth $2,960,000 after purchasing an additional 12,131 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of Terex Corporation by 72.4% in the 1st quarter. Prudential Financial Inc. now owns 105,822 shares of the industrial products company’s stock valued at $3,323,000 after acquiring an additional 44,450 shares during the last quarter. Credit Agricole S A bought a new stake in shares of Terex Corporation in the 1st quarter valued at approximately $338,000. OppenheimerFunds Inc. increased its holdings in shares of Terex Corporation by 10.6% in the 1st quarter. OppenheimerFunds Inc. now owns 36,590 shares of the industrial products company’s stock valued at $1,149,000 after acquiring an additional 3,496 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Terex Corporation by 9.3% in the 1st quarter. Principal Financial Group Inc. now owns 441,597 shares of the industrial products company’s stock valued at $13,866,000 after acquiring an additional 37,546 shares during the last quarter. Institutional investors own 97.72% of the company’s stock.
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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.
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