Q3 2016 Earnings Estimate for Terex Corp. Issued By Seaport Global Securities (TEX)
Terex Corp. (NYSE:TEX) – Investment analysts at Seaport Global Securities reduced their Q3 2016 earnings estimates for Terex Corp. in a note issued to investors on Friday. Seaport Global Securities analyst M. Shlisky now forecasts that the brokerage will post earnings of $0.20 per share for the quarter, down from their prior forecast of $0.21.
Terex Corp. (NYSE:TEX) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The business’s revenue was down 10.1% compared to the same quarter last year.
Other equities analysts also recently issued research reports about the company. Bank of America Corp. upgraded Terex Corp. from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $21.00 to $29.00 in a research report on Friday. Zacks Investment Research upgraded Terex Corp. from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Tuesday, June 28th. Wells Fargo & Co. reiterated a “buy” rating on shares of Terex Corp. in a research report on Wednesday, June 22nd. Barclays PLC reduced their price objective on Terex Corp. from $25.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, July 11th. Finally, Stifel Nicolaus set a $29.00 price objective on Terex Corp. and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $24.50.
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Terex Corp. (NYSE:TEX) opened at 25.14 on Monday. The company has a market cap of $2.73 billion, a P/E ratio of 50.89 and a beta of 2.93. Terex Corp. has a 52-week low of $13.62 and a 52-week high of $25.85. The stock’s 50 day moving average price is $24.32 and its 200-day moving average price is $23.24.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Thursday, November 10th will be paid a dividend of $0.07 per share. The ex-dividend date is Tuesday, November 8th. This represents a $0.28 annualized dividend and a yield of 1.11%. Terex Corp.’s payout ratio is 57.14%.
In other Terex Corp. news, insider Kevin A. Barr sold 10,000 shares of Terex Corp. stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $23.75, for a total transaction of $237,500.00. Following the completion of the sale, the insider now directly owns 153,788 shares of the company’s stock, valued at approximately $3,652,465. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew Fearon sold 3,632 shares of Terex Corp. stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $24.69, for a total value of $89,674.08. Following the sale, the insider now directly owns 111,114 shares of the company’s stock, valued at $2,743,404.66. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. IBM Retirement Fund increased its stake in shares of Terex Corp. by 1.1% in the second quarter. IBM Retirement Fund now owns 10,682 shares of the company’s stock worth $217,000 after buying an additional 113 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Terex Corp. by 0.6% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 18,852 shares of the company’s stock worth $383,000 after buying an additional 116 shares during the period. Creative Planning increased its stake in shares of Terex Corp. by 3.1% in the third quarter. Creative Planning now owns 8,864 shares of the company’s stock worth $225,000 after buying an additional 264 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Terex Corp. by 3.8% in the second quarter. PNC Financial Services Group Inc. now owns 8,875 shares of the company’s stock worth $182,000 after buying an additional 323 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its stake in shares of Terex Corp. by 0.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 36,813 shares of the company’s stock worth $748,000 after buying an additional 346 shares during the period. 81.01% of the stock is owned by institutional investors.
Terex Corp. Company Profile
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.
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