Terex Corporation (NYSE:TEX) - Research analysts at Seaport Global Securities upped their Q3 2017 EPS estimates for shares of Terex Corporation in a research report issued on Friday. Seaport Global Securities analyst M. Shlisky now expects that the industrial products company will post earnings per share of $0.36 for the quarter, up from their previous estimate of $0.29. Seaport Global Securities has a “Neutral” rating and a $35.00 price target on the stock. Seaport Global Securities also issued estimates for Terex Corporation’s Q4 2017 earnings at $0.23 EPS, FY2017 earnings at $1.13 EPS and FY2019 earnings at $2.75 EPS.
Terex Corporation (NYSE:TEX) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.09. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS.
TEX has been the topic of a number of other research reports. Credit Suisse Group set a $45.00 price objective on shares of Terex Corporation and gave the stock a “buy” rating in a report on Monday, June 26th. Zacks Investment Research upgraded shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Thursday, July 13th. Wells Fargo & Company restated an “outperform” rating and issued a $41.00 price objective (up previously from $38.50) on shares of Terex Corporation in a report on Monday, June 19th. Goldman Sachs Group, Inc. (The) cut shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Thursday, June 15th. Finally, Bank of America Corporation cut shares of Terex Corporation from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $29.00 to $33.00 in a report on Thursday, May 11th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Terex Corporation currently has a consensus rating of “Hold” and a consensus target price of $35.94.
Shares of Terex Corporation (NYSE:TEX) opened at 39.19 on Monday. The firm’s market capitalization is $3.75 billion. Terex Corporation has a 52 week low of $21.88 and a 52 week high of $39.99. The stock has a 50 day moving average price of $37.34 and a 200 day moving average price of $33.55.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th will be given 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 yield of 0.82%. Terex Corporation’s dividend payout ratio (DPR) is -50.79%.
Terex Corporation declared that its Board of Directors has authorized a share buyback plan 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, VP Eric I. Cohen sold 10,000 shares of the stock in a transaction that occurred 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 filing with the SEC, which is available at the SEC website. Also, insider Kevin A. Barr sold 15,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $38.92, for a total transaction of $583,800.00. Following the transaction, the insider now owns 143,304 shares in the company, valued at approximately $5,577,391.68. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,224 shares of company stock worth $44,403 and have sold 86,508 shares worth $3,085,841. 2.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. IndexIQ Advisors LLC bought a new position in shares of Terex Corporation during the second quarter worth $565,000. 1060 Capital LLC bought a new position in shares of Terex Corporation during the second quarter worth $25,739,000. Mirador Capital Partners LP increased its position in shares of Terex Corporation by 4.5% in the second quarter. Mirador Capital Partners LP now owns 9,118 shares of the industrial products company’s stock worth $360,000 after buying an additional 394 shares during the period. Brighton Jones LLC bought a new position in shares of Terex Corporation during the second quarter worth $2,303,000. Finally, Prudential Financial Inc. increased its position in shares of Terex Corporation by 156.4% in the second quarter. Prudential Financial Inc. now owns 271,282 shares of the industrial products company’s stock worth $10,173,000 after buying an additional 165,460 shares during the period. Institutional investors own 90.94% 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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