Q4 2017 EPS Estimates for Terex Corporation (TEX) Reduced by Analyst
Terex Corporation (NYSE:TEX) – Equities research analysts at Jefferies Group reduced their Q4 2017 earnings per share estimates for Terex Corporation in a research report issued on Wednesday. Jefferies Group analyst S. Volkmann now expects that the industrial products company will post earnings per share of $0.15 for the quarter, down from their prior estimate of $0.20.
A number of other equities analysts have also recently issued reports on TEX. Bank of America Corporation cut shares of Terex Corporation from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $29.00 to $33.00 in a research report on Thursday, May 11th. Royal Bank Of Canada reiterated a “hold” rating and set a $33.00 price target on shares of Terex Corporation in a report on Wednesday, April 26th. Zacks Investment Research upgraded shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Thursday, July 13th. Barclays PLC boosted their target price on shares of Terex Corporation from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Wednesday, April 19th. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $41.00 target price (up from $38.50) on shares of Terex Corporation in a report on Monday, June 19th. 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 given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.94.
Terex Corporation (NYSE:TEX) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The company’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share.
The company also recently disclosed 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. 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 dividend payout ratio is presently -50.79%.
Terex Corporation announced that its board has initiated a share repurchase program on Tuesday, May 30th that authorizes the company to repurchase $280.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 8.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, SVP Kevin Bradley sold 20,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $32.56, for a total value of $651,200.00. Following the completion of the sale, the senior vice president now directly owns 79,612 shares of the company’s stock, valued at $2,592,166.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric I. Cohen sold 10,000 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $36.42, for a total transaction of $364,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 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 currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Terex Corporation by 11,851.5% in the first quarter. BlackRock Inc. now owns 8,449,356 shares of the industrial products company’s stock worth $265,310,000 after buying an additional 8,378,659 shares during the period. Vanguard Group Inc. raised its stake in Terex Corporation by 0.3% in the first quarter. Vanguard Group Inc. now owns 7,999,378 shares of the industrial products company’s stock worth $251,180,000 after buying an additional 22,797 shares during the period. Dimensional Fund Advisors LP raised its stake in Terex Corporation by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,444,169 shares of the industrial products company’s stock worth $202,346,000 after buying an additional 943,237 shares during the period. Alliancebernstein L.P. raised its stake in Terex Corporation by 160.8% in the first quarter. Alliancebernstein L.P. now owns 3,095,591 shares of the industrial products company’s stock worth $97,202,000 after buying an additional 1,908,447 shares during the period. Finally, State Street Corp raised its stake in Terex Corporation by 1.1% in the first quarter. State Street Corp now owns 2,746,795 shares of the industrial products company’s stock worth $86,251,000 after buying an additional 30,608 shares during the period. 90.94% of the stock is owned by institutional investors and hedge funds.
About Terex Corporation
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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