BMO Capital Markets reissued their hold rating on shares of Terex Corporation (NYSE:TEX) in a research note released on Thursday morning. They currently have a $35.00 target price on the industrial products company’s stock.
Other equities research analysts also recently issued reports about the stock. Credit Suisse Group restated a buy rating and set a $38.00 price objective on shares of Terex Corporation in a research report on Thursday, April 13th. Zacks Investment Research upgraded shares of Terex Corporation from a hold rating to a buy rating and set a $42.00 price objective for the company in a research report on Thursday, July 13th. Royal Bank Of Canada restated a hold rating and set a $33.00 price objective on shares of Terex Corporation in a research report on Wednesday, April 26th. Seaport Global Securities raised their price objective on shares of Terex Corporation from $30.00 to $35.00 and gave the stock a neutral rating in a research report on Thursday, May 4th. Finally, Bank of America Corporation downgraded shares of Terex Corporation from a buy rating to a neutral rating and set a $35.00 price objective for the company. in a research report on Friday, April 28th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $35.29.
Terex Corporation (NYSE:TEX) opened at 38.43 on Thursday. The company’s 50-day moving average price is $36.36 and its 200 day moving average price is $33.13. Terex Corporation has a 52 week low of $21.79 and a 52 week high of $39.57. The company’s market capitalization is $3.75 billion.
Terex Corporation (NYSE:TEX) last issued its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.08. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $926.31 million. Terex Corporation had a negative net margin of 2.53% and a positive return on equity of 5.90%. On average, analysts predict that Terex Corporation will post $0.99 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.83%. Terex Corporation’s payout ratio is presently -29.63%.
Terex Corporation announced that its board has authorized a share repurchase program on Tuesday, May 30th that authorizes the company to buyback $280.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 8.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
In other news, VP Eric I. Cohen sold 10,000 shares of Terex Corporation stock in a transaction on Friday, June 9th. The shares were sold at an average price of $36.42, for a total transaction of $364,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Kevin Bradley sold 3,000 shares of Terex Corporation stock in a transaction on Friday, July 14th. The stock was sold at an average price of $39.00, for a total transaction of $117,000.00. Following the transaction, the senior vice president now owns 45,612 shares in the company, valued at approximately $1,778,868. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 1,301 shares of company stock worth $44,893 and have sold 78,903 shares worth $2,746,667. Insiders own 2.50% of the company’s stock.
Institutional investors have recently modified their holdings of the company. M&T Bank Corp raised its position in shares of Terex Corporation by 1.5% in the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock worth $279,000 after buying an additional 130 shares during the period. Liberty Mutual Group Asset Management Inc. raised its position in shares of Terex Corporation by 0.4% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 47,951 shares of the industrial products company’s stock worth $1,506,000 after buying an additional 170 shares during the period. Capstone Asset Management Co. raised its position in shares of Terex Corporation by 1.5% in the second quarter. Capstone Asset Management Co. now owns 14,468 shares of the industrial products company’s stock worth $543,000 after buying an additional 220 shares during the period. Creative Planning raised its position in shares of Terex Corporation by 3.4% in the first quarter. Creative Planning now owns 9,221 shares of the industrial products company’s stock worth $290,000 after buying an additional 307 shares during the period. Finally, State Treasurer State of Michigan raised its position in shares of Terex Corporation by 0.9% in the first quarter. State Treasurer State of Michigan now owns 43,000 shares of the industrial products company’s stock worth $1,350,000 after buying an additional 400 shares during the period. Institutional investors own 91.45% of the company’s stock.
Terex Corporation 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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