Terex Co. (TEX) Receives Consensus Rating of “Hold” from Brokerages
Terex Co. (NYSE:TEX) has received an average recommendation of “Hold” from the nineteen brokerages that are covering the stock. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $32.36.
TEX has been the subject of a number of recent analyst reports. Citigroup Inc initiated coverage on shares of Terex in a report on Monday, February 6th. They issued a “neutral” rating and a $36.00 price objective for the company. Zacks Investment Research lowered shares of Terex from a “buy” rating to a “hold” rating in a report on Monday, February 20th. Credit Suisse Group AG restated an “outperform” rating and issued a $40.00 price objective (up from $38.00) on shares of Terex in a report on Thursday, May 4th. Deutsche Bank AG upgraded shares of Terex from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $37.00 in a report on Monday, February 27th. Finally, OTR Global upgraded shares of Terex to a “positive” rating in a report on Friday, March 17th.
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In related news, Director G Chris Andersen sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $31.06, for a total value of $310,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin Bradley sold 20,000 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $32.56, for a total transaction of $651,200.00. Following the completion of the transaction, the senior vice president now directly owns 79,612 shares of the company’s stock, valued at approximately $2,592,166.72. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 759 shares of company stock valued at $24,651 and sold 87,395 shares valued at $2,787,477. Corporate insiders own 3.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of TEX. Allianz Asset Management AG purchased a new position in shares of Terex during the fourth quarter valued at $1,697,000. TCW Group Inc. increased its position in shares of Terex by 3.0% in the fourth quarter. TCW Group Inc. now owns 3,159,407 shares of the industrial products company’s stock valued at $99,616,000 after buying an additional 92,673 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Terex by 7.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,500,932 shares of the industrial products company’s stock valued at $173,447,000 after buying an additional 366,280 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Terex during the fourth quarter valued at $256,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Terex during the fourth quarter valued at $237,000. 84.32% of the stock is owned by institutional investors.
Shares of Terex (NYSE:TEX) traded up 0.30% during mid-day trading on Friday, hitting $32.91. The company had a trading volume of 957,764 shares. The firm has a 50-day moving average price of $33.14 and a 200-day moving average price of $31.49. Terex has a 52 week low of $18.91 and a 52 week high of $36.43. The firm’s market capitalization is $3.21 billion.
Terex (NYSE:TEX) last announced its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.08. Terex had a net margin of 2.01% and a return on equity of 7.39%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $926.31 million. Equities analysts forecast that Terex will post $0.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 19th. Stockholders of record on Friday, June 9th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $0.32 annualized dividend and a dividend yield of 0.97%. Terex’s dividend payout ratio (DPR) is 28.57%.
Terex 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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