Q3 2016 Earnings Estimate for Terex Corp. Issued By Seaport Global Securities (TEX)
Terex Corp. (NYSE:TEX) – Equities research analysts at Seaport Global Securities reduced their Q3 2016 earnings per share (EPS) estimates for Terex Corp. in a report issued on Friday. Seaport Global Securities analyst M. Shlisky now forecasts that the firm will post earnings per share of $0.20 for the quarter, down from their previous forecast of $0.21.
Terex Corp. (NYSE:TEX) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.10. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The firm earned $1.30 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm earned $0.78 EPS. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year.
A number of other equities research analysts have also issued reports on the stock. Bank of America Corp. reissued an “underperform” rating on shares of Terex Corp. in a research note on Thursday, July 7th. Credit Agricole SA started coverage on shares of Terex Corp. in a research note on Friday, September 30th. They set a “buy” rating and a $30.00 target price for the company. Zacks Investment Research raised shares of Terex Corp. from a “strong sell” rating to a “hold” rating in a research note on Monday, September 12th. Barclays PLC decreased their target price on shares of Terex Corp. from $25.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, July 11th. Finally, Deutsche Bank AG lifted their target price on shares of Terex Corp. from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Wednesday, October 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $24.50.
Shares of Terex Corp. (NYSE:TEX) opened at 25.14 on Monday. The firm has a market capitalization of $2.73 billion, a P/E ratio of 50.89 and a beta of 2.93. Terex Corp. has a one year low of $13.62 and a one year high of $25.85. The company has a 50-day moving average price of $24.32 and a 200 day moving average price of $23.24.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Thursday, November 10th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.28 dividend on an annualized basis and a yield of 1.11%. Terex Corp.’s payout ratio is currently 57.14%.
In other Terex Corp. news, VP Eric I. Cohen sold 8,258 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $24.29, for a total value of $200,586.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Matthew Fearon sold 3,632 shares of the business’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $24.69, for a total transaction of $89,674.08. Following the completion of the transaction, the insider now owns 111,114 shares in the company, valued at $2,743,404.66. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in TEX. Nisa Investment Advisors LLC raised its position in Terex Corp. by 0.8% in the third quarter. Nisa Investment Advisors LLC now owns 76,620 shares of the company’s stock worth $1,947,000 after buying an additional 600 shares during the period. Creative Planning raised its position in Terex Corp. by 3.1% in the third quarter. Creative Planning now owns 8,864 shares of the company’s stock worth $225,000 after buying an additional 264 shares during the period. Fisher Asset Management LLC raised its position in Terex Corp. by 3.5% in the third quarter. Fisher Asset Management LLC now owns 441,605 shares of the company’s stock worth $11,221,000 after buying an additional 15,043 shares during the period. Triangle Securities Wealth Management purchased a new position in Terex Corp. during the third quarter worth approximately $217,000. Finally, Northwestern Mutual Investment Management Company LLC raised its position in Terex Corp. by 0.6% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 18,852 shares of the company’s stock worth $383,000 after buying an additional 116 shares during the period. Hedge funds and other institutional investors own 81.01% of the company’s stock.
Terex Corp. Company Profile
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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