$999.17 Million in Sales Expected for Terex Co. (TEX) This Quarter
Equities analysts forecast that Terex Co. (NYSE:TEX) will announce sales of $999.17 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Terex’s earnings, with the highest sales estimate coming in at $1.04 billion and the lowest estimate coming in at $990.50 million. Terex reported sales of $974.70 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.5%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 20th.
According to Zacks, analysts expect that Terex will report full-year sales of $999.17 million for the current fiscal year, with estimates ranging from $4.29 billion to $4.34 billion. For the next financial year, analysts expect that the company will post sales of $4.58 billion per share, with estimates ranging from $4.50 billion to $4.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Terex.
Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.14. Terex had a negative net margin of 2.62% and a positive return on equity of 7.01%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business earned $0.19 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year.
Terex (NYSE TEX) traded up $0.47 during trading hours on Monday, reaching $48.51. 530,932 shares of the company were exchanged, compared to its average volume of 1,428,396. Terex has a 1-year low of $28.67 and a 1-year high of $48.86. The company has a quick ratio of 1.53, a current ratio of 2.42 and a debt-to-equity ratio of 0.71. The firm has a market cap of $4,040.16, a price-to-earnings ratio of -56.41, a PEG ratio of 3.32 and a beta of 1.88.
Terex declared that its board has initiated a stock buyback plan on Wednesday, September 6th that permits the company to repurchase $225.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Thursday, November 9th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.66%. Terex’s dividend payout ratio (DPR) is currently -37.21%.
In related news, VP Eric I. Cohen sold 10,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the transaction, the vice president now directly owns 195,980 shares in the company, valued at approximately $8,819,100. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Mark I. Clair sold 3,014 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $45.53, for a total value of $137,227.42. The disclosure for this sale can be found here. Insiders have acquired a total of 1,111 shares of company stock valued at $50,693 in the last three months. Insiders own 2.50% of the company’s stock.
A number of large investors have recently modified their holdings of TEX. Sei Investments Co. increased its stake in shares of Terex by 19.5% during the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock valued at $142,000 after buying an additional 619 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Terex by 450.2% in the 3rd quarter. Pacer Advisors Inc. now owns 4,446 shares of the industrial products company’s stock valued at $200,000 after purchasing an additional 3,638 shares during the last quarter. Invictus RG lifted its stake in shares of Terex by 95.4% in the 3rd quarter. Invictus RG now owns 4,618 shares of the industrial products company’s stock valued at $208,000 after purchasing an additional 2,255 shares during the last quarter. Clear Perspective Advisors LLC bought a new stake in shares of Terex in the 2nd quarter valued at approximately $198,000. Finally, CIBC World Markets Inc. bought a new stake in shares of Terex in the 2nd quarter valued at approximately $210,000. Institutional investors and hedge funds own 96.86% of the company’s stock.
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Terex Company Profile
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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