Terex Corp. (TEX) Now Covered by Analysts at Credit Agricole SA
Equities researchers at Credit Agricole SA started coverage on shares of Terex Corp. (NYSE:TEX) in a note issued to investors on Friday. The firm set a “buy” rating on the stock.
TEX has been the subject of a number of other reports. Morgan Stanley reaffirmed a “hold” rating and issued a $21.00 price target on shares of Terex Corp. in a report on Friday, September 16th. BMO Capital Markets reaffirmed a “hold” rating and issued a $24.00 price target on shares of Terex Corp. in a report on Monday, August 29th. Zacks Investment Research cut Terex Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 8th. Deutsche Bank AG started coverage on Terex Corp. in a report on Tuesday, September 6th. They issued a “hold” rating and a $26.00 price target for the company. Finally, Jefferies Group cut Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a report on Tuesday, August 9th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. Terex Corp. currently has a consensus rating of “Hold” and an average price target of $23.70.
Terex Corp. (NYSE:TEX) opened at 24.29 on Friday. The firm has a 50 day moving average of $24.10 and a 200 day moving average of $23.19. The firm has a market capitalization of $2.64 billion, a PE ratio of 49.17 and a beta of 3.12. Terex Corp. has a one year low of $13.62 and a one year high of $25.57.
Terex Corp. (NYSE:TEX) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.10. The company earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The business’s revenue was down 10.1% on a year-over-year basis. During the same period last year, the business earned $0.78 earnings per share. Equities analysts forecast that Terex Corp. will post $0.96 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Wednesday, August 10th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.15%. The ex-dividend date was Monday, August 8th. Terex Corp.’s payout ratio is 57.14%.
In other Terex Corp. news, insider Matthew Fearon sold 3,632 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $24.69, for a total value of $89,674.08. Following the sale, the insider now owns 111,114 shares in the company, valued at approximately $2,743,404.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin A. Barr sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $23.75, for a total value of $237,500.00. Following the completion of the sale, the insider now owns 153,788 shares in the company, valued at approximately $3,652,465. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Artemis Investment Management LLP boosted its stake in Terex Corp. by 298.5% in the second quarter. Artemis Investment Management LLP now owns 497,184 shares of the company’s stock valued at $10,100,000 after buying an additional 372,408 shares during the last quarter. Kennedy Capital Management Inc. purchased a new stake in Terex Corp. during the first quarter valued at approximately $2,503,000. BNP Paribas Arbitrage SA boosted its stake in Terex Corp. by 9.4% in the second quarter. BNP Paribas Arbitrage SA now owns 50,956 shares of the company’s stock valued at $1,035,000 after buying an additional 4,362 shares during the last quarter. BlackRock Group LTD boosted its stake in Terex Corp. by 31.0% in the first quarter. BlackRock Group LTD now owns 85,515 shares of the company’s stock valued at $2,126,000 after buying an additional 20,240 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its stake in Terex Corp. by 49.1% in the second quarter. Pzena Investment Management LLC now owns 7,164,504 shares of the company’s stock valued at $145,511,000 after buying an additional 2,359,735 shares during the last quarter. Hedge funds and other institutional investors own 81.01% of the company’s stock.
About Terex Corp.
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.
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