FY2017 EPS Estimates for Terex Corporation (TEX) Lifted by Analyst
Terex Corporation (NYSE:TEX) – Stock analysts at William Blair raised their FY2017 earnings estimates for shares of Terex Corporation in a report issued on Wednesday. William Blair analyst L. De. Maria now anticipates that the industrial products company will post earnings of $1.15 per share for the year, up from their previous forecast of $0.95.
A number of other analysts also recently issued reports on TEX. Credit Suisse Group reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Terex Corporation in a research note on Thursday, April 13th. Barclays PLC lifted their price objective on Terex Corporation from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 19th. BMO Capital Markets reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Terex Corporation in a research note on Thursday, April 20th. J P Morgan Chase & Co raised Terex Corporation from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $30.00 to $47.00 in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Terex Corporation in a research note on Wednesday, April 26th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned 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.
WARNING: “FY2017 EPS Estimates for Terex Corporation (TEX) Lifted by Analyst” was posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/08/07/fy2017-eps-estimates-for-terex-corporation-tex-lifted-by-analyst.html.
Shares of Terex Corporation (TEX) opened at 39.44 on Monday. The firm has a 50-day moving average price of $37.34 and a 200 day moving average price of $33.55. Terex Corporation has a 52 week low of $21.88 and a 52 week high of $39.90. The stock’s market cap is $3.77 billion.
Terex Corporation (NYSE:TEX) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. Terex Corporation’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share.
Institutional investors have recently bought and sold shares of the stock. Sei Investments Co. boosted its position in Terex Corporation by 19.5% in the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after buying an additional 619 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Terex Corporation by 7.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock worth $175,000 after buying an additional 403 shares during the last quarter. National Planning Corp acquired a new position in Terex Corporation during the second quarter worth about $209,000. US Bancorp DE boosted its position in Terex Corporation by 9.3% in the first quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock worth $188,000 after buying an additional 510 shares during the last quarter. Finally, New England Research & Management Inc. acquired a new position in Terex Corporation during the second quarter worth about $274,000. Institutional investors own 90.89% of the company’s stock.
In related news, SVP Kevin Bradley sold 3,000 shares of the business’s 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 completion of the transaction, the senior vice president now owns 45,612 shares in the company, valued at approximately $1,778,868. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Eric I. Cohen sold 10,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $36.42, for a total value of $364,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 841 shares of company stock valued at $29,607 and have sold 71,508 shares valued at $2,502,041. 2.50% of the stock is owned by insiders.
Terex Corporation announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 30th that permits the company to repurchase $280.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 8.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Monday, August 7th. Terex Corporation’s payout ratio is currently -50.79%.
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.
Receive News & Ratings for Terex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.