Zacks: Brokerages Expect Terex Co. (NYSE:TEX) Will Post Quarterly Sales of $1.05 Billion

Analysts expect Terex Co. (NYSE:TEX) to announce sales of $1.05 billion for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Terex’s earnings. The lowest sales estimate is $955.00 million and the highest is $1.11 billion. Terex reported sales of $765.60 million during the same quarter last year, which indicates a positive year-over-year growth rate of 37.1%. The firm is scheduled to issue its next earnings results on Tuesday, October 26th.

According to Zacks, analysts expect that Terex will report full year sales of $3.91 billion for the current fiscal year, with estimates ranging from $3.87 billion to $3.96 billion. For the next financial year, analysts forecast that the business will post sales of $4.34 billion, with estimates ranging from $4.23 billion to $4.43 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Terex.

Terex (NYSE:TEX) last posted its earnings results on Wednesday, July 28th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.42. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $993.12 million. Terex had a return on equity of 15.86% and a net margin of 3.98%.

Several equities research analysts have issued reports on TEX shares. JPMorgan Chase & Co. upgraded Terex from a “neutral” rating to an “overweight” rating and set a $61.00 target price on the stock in a research report on Tuesday, July 13th. Morgan Stanley increased their price objective on Terex from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, August 2nd. Barclays increased their price objective on Terex from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on Terex from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. Finally, Zacks Investment Research downgraded Terex from a “buy” rating to a “sell” rating and set a $50.00 price objective on the stock. in a research report on Tuesday, July 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Terex currently has a consensus rating of “Buy” and an average target price of $50.56.

Shares of NYSE:TEX traded up $0.01 during trading on Friday, hitting $43.49. 514,255 shares of the company were exchanged, compared to its average volume of 666,182. The company has a market cap of $3.04 billion, a PE ratio of 22.42 and a beta of 1.67. The stock has a 50 day moving average of $47.99 and a 200 day moving average of $47.85. Terex has a 52-week low of $18.00 and a 52-week high of $55.60. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.11 and a quick ratio of 1.36.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 20th. Stockholders of record on Thursday, August 12th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.10%. Terex’s dividend payout ratio (DPR) is currently 369.23%.

In other news, VP Amy George sold 4,892 shares of the firm’s stock in a transaction dated Thursday, August 12th. The stock was sold at an average price of $53.75, for a total transaction of $262,945.00. Following the transaction, the vice president now directly owns 98,935 shares of the company’s stock, valued at $5,317,756.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of TEX. First Trust Advisors LP grew its stake in shares of Terex by 222.7% in the first quarter. First Trust Advisors LP now owns 67,715 shares of the industrial products company’s stock worth $2,176,000 after purchasing an additional 46,730 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Terex by 31.8% in the first quarter. The Manufacturers Life Insurance Company now owns 161,432 shares of the industrial products company’s stock worth $7,438,000 after purchasing an additional 38,961 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Terex in the first quarter worth about $229,000. Natixis Advisors L.P. bought a new stake in shares of Terex in the first quarter worth about $753,000. Finally, Alliancebernstein L.P. grew its stake in shares of Terex by 8.1% in the first quarter. Alliancebernstein L.P. now owns 1,775,953 shares of the industrial products company’s stock worth $81,818,000 after purchasing an additional 133,063 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Terex Company Profile

Terex Corp. engages in the manufacturing of aerial work platforms, cranes, and materials processing machinery. The firm designs, builds and support products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. It operates through the following segments: Aerial Work Platforms and Materials Processing.

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Earnings History and Estimates for Terex (NYSE:TEX)

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