According to Zacks, “Hurt by weak industry demand, Terex’s fourth-quarter both earnings and revenues declined 76% and 16.5%, respectively, on a year-over-year basis. However, Terex beat the Zacks Consensus Estimate on both counts. Due to ongoing challenges in the Cranes and AWP segment, Terex expects earnings per share to range between $0.60 and $0.80 in 2017 and sales at $3.9 billion. Further, the stock has underperformed the Zacks categorized industry. Lower fleet replacement from North American AWP rental customers will affect AWP segment while the global crane market will deteriorate further in 2017. However, the MP segment remains a consistent performer and is well positioned to benefit from increased construction spending. Also, the company is reviewing all aspects of its cost structure and has been taking actions throughout the entire company to reduce costs. Savings from these actions will help negate challenging conditions in its markets”
Several other analysts also recently weighed in on TEX. Deutsche Bank AG boosted their target price on Terex from $24.00 to $34.00 and gave the company a hold rating in a report on Tuesday, December 6th. OTR Global raised Terex to a positive rating in a report on Friday, December 9th. Royal Bank of Canada boosted their target price on Terex from $24.00 to $33.00 and gave the company a sector perform rating in a report on Wednesday, December 14th. Stifel Nicolaus boosted their target price on Terex from $29.00 to $37.00 and gave the company a buy rating in a report on Wednesday, December 14th. Finally, Citigroup Inc initiated coverage on Terex in a report on Monday, February 6th. They issued a neutral rating and a $36.00 target price for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $29.00.
Shares of Terex (NYSE:TEX) opened at 30.00 on Friday. The firm’s market capitalization is $3.18 billion. Terex has a one year low of $18.91 and a one year high of $33.87. The firm has a 50-day moving average price of $31.22 and a 200 day moving average price of $28.79.
Terex (NYSE:TEX) last posted its earnings results on Tuesday, February 21st. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.12. Terex had a return on equity of 7.39% and a net margin of 2.01%. The business earned $974.70 million during the quarter, compared to the consensus estimate of $918.81 million. During the same period in the previous year, the business earned $0.50 EPS. The business’s quarterly revenue was down 16.5% on a year-over-year basis. Equities analysts forecast that Terex will post $0.82 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, March 20th. Shareholders of record on Friday, March 10th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, March 8th. This is an increase from Terex’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.07%. Terex’s dividend payout ratio is currently 28.57%.
In other Terex news, Director G Chris Andersen sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the director now directly owns 46,691 shares of the company’s stock, valued at approximately $1,400,730. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin Bradley sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $31.17, for a total value of $467,550.00. Following the sale, the senior vice president now directly owns 124,518 shares of the company’s stock, valued at $3,881,226.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 414 shares of company stock valued at $13,343 and have sold 40,215 shares valued at $1,235,330. 3.70% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of TEX. Mascoma Wealth Management LLC acquired a new position in shares of Terex during the fourth quarter worth about $111,000. Riverhead Capital Management LLC acquired a new position in shares of Terex during the third quarter worth about $132,000. Sei Investments Co. increased its position in shares of Terex by 47.5% in the third quarter. Sei Investments Co. now owns 5,284 shares of the company’s stock worth $135,000 after buying an additional 1,701 shares during the period. US Bancorp DE increased its position in shares of Terex by 6.8% in the third quarter. US Bancorp DE now owns 6,979 shares of the company’s stock worth $177,000 after buying an additional 444 shares during the period. Finally, LS Investment Advisors LLC increased its position in shares of Terex by 7.0% in the third quarter. LS Investment Advisors LLC now owns 7,113 shares of the company’s stock worth $181,000 after buying an additional 465 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.
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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