Terex Corp. (TEX) Lowered to Underperform at
TEX has been the subject of several other reports. Stifel Nicolaus set a $29.00 target price on Terex Corp. and gave the company a buy rating in a report on Wednesday, August 3rd. Bank of America Corp. raised Terex Corp. from an underperform rating to a buy rating and boosted their target price for the company from $21.00 to $29.00 in a report on Friday, October 14th. Morgan Stanley reissued a hold rating and issued a $21.00 target price on shares of Terex Corp. in a report on Friday, September 16th. Zacks Investment Research raised Terex Corp. from a strong sell rating to a hold rating in a report on Monday, September 12th. Finally, Deutsche Bank AG began coverage on Terex Corp. in a report on Tuesday, September 6th. They issued a hold rating and a $26.00 target price for the company. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $24.50.
Shares of Terex Corp. (NYSE:TEX) traded up 0.25% during trading on Friday, reaching $28.61. The company’s stock had a trading volume of 343,798 shares. Terex Corp. has a 52 week low of $13.62 and a 52 week high of $28.88. The company has a 50 day moving average price of $25.00 and a 200 day moving average price of $23.43. The firm has a market capitalization of $3.03 billion, a P/E ratio of 29.13 and a beta of 2.34.
Terex Corp. (NYSE:TEX) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.03. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Terex Corp. had a return on equity of 7.39% and a net margin of 2.01%. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. On average, equities research analysts expect that Terex Corp. will post $0.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Thursday, November 10th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Tuesday, November 8th. Terex Corp.’s dividend payout ratio (DPR) is currently 28.57%.
In related news, SVP Brian J. Henry sold 5,000 shares of the stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $27.07, for a total value of $135,350.00. Following the transaction, the senior vice president now directly owns 310,611 shares of the company’s stock, valued at approximately $8,408,239.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthew Fearon sold 3,632 shares of the stock in a transaction 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 completion of the transaction, the insider now directly 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 owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in TEX. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Terex Corp. by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,170 shares of the company’s stock valued at $106,000 after buying an additional 407 shares in the last quarter. BOKF NA increased its stake in shares of Terex Corp. by 97.1% in the second quarter. BOKF NA now owns 5,237 shares of the company’s stock valued at $107,000 after buying an additional 2,580 shares in the last quarter. Riverhead Capital Management LLC bought a new stake in shares of Terex Corp. during the third quarter valued at about $132,000. LS Investment Advisors LLC increased its stake in shares of Terex Corp. by 70.2% in the second quarter. LS Investment Advisors LLC now owns 6,648 shares of the company’s stock valued at $135,000 after buying an additional 2,743 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Terex Corp. by 47.5% in the third quarter. Sei Investments Co. now owns 5,284 shares of the company’s stock valued at $135,000 after buying an additional 1,701 shares in the last quarter. Hedge funds and other institutional investors own 84.20% 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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