Shares of Terex Co. (NYSE:TEX) have received a consensus recommendation of “Hold” from the twenty brokerages that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $41.09.
Several equities research analysts have recently commented on TEX shares. Seaport Global Securities set a $49.00 price target on shares of Terex and gave the company a “buy” rating in a report on Friday, July 13th. Bank of America cut their price objective on shares of Terex from $40.00 to $28.00 and set an “underperform” rating on the stock in a research report on Friday, November 2nd. Wells Fargo & Co dropped their target price on shares of Terex from $45.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday. Zacks Investment Research raised shares of Terex from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Tuesday, July 17th. Finally, Deutsche Bank dropped their target price on shares of Terex from $32.00 to $28.00 and set a “sell” rating on the stock in a research report on Monday.
NYSE:TEX opened at $31.70 on Friday. Terex has a one year low of $28.64 and a one year high of $50.17. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.22 and a quick ratio of 1.19. The stock has a market capitalization of $2.30 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 0.51 and a beta of 1.61.
Terex (NYSE:TEX) last posted its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.07). Terex had a net margin of 2.42% and a return on equity of 18.86%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts forecast that Terex will post 2.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Friday, November 9th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.26%. The ex-dividend date is Thursday, November 8th. Terex’s dividend payout ratio is presently 29.63%.
Terex announced that its board has authorized a stock repurchase program on Thursday, July 12th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
In other news, insider Steve Filipov sold 6,929 shares of the company’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $38.85, for a total value of $269,191.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin A. Barr sold 11,937 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $38.43, for a total transaction of $458,738.91. Following the completion of the sale, the insider now directly owns 101,980 shares in the company, valued at $3,919,091.40. The disclosure for this sale can be found here. In the last three months, insiders have acquired 973 shares of company stock worth $37,603 and have sold 38,866 shares worth $1,514,531. 3.50% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in TEX. Stratos Wealth Partners LTD. purchased a new stake in shares of Terex in the 3rd quarter valued at $109,000. Delta Capital Management LLC acquired a new position in Terex during the second quarter worth $212,000. Lido Advisors LLC acquired a new position in Terex during the second quarter worth $246,000. Strs Ohio acquired a new position in Terex during the second quarter worth $307,000. Finally, Pinnacle Associates Ltd. raised its position in Terex by 32.4% during the second quarter. Pinnacle Associates Ltd. now owns 8,170 shares of the industrial products company’s stock worth $345,000 after acquiring an additional 2,001 shares during the period. 98.74% of the stock is currently owned by institutional investors and hedge funds.
Terex Company Profile
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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