Terex Corporation (TEX) Expected to Post Q3 2017 Earnings of $0.36 Per Share
Terex Corporation (NYSE:TEX) – Investment analysts at Seaport Global Securities lifted their Q3 2017 earnings per share estimates for shares of Terex Corporation in a note issued to investors on Friday. Seaport Global Securities analyst M. Shlisky now anticipates that the industrial products company will post earnings of $0.36 per share for the quarter, up from their prior estimate of $0.29. Seaport Global Securities has a “Neutral” rating and a $35.00 price objective 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.
Several other equities analysts also recently commented on TEX. Credit Suisse Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Terex Corporation in a report on Thursday, April 13th. Barclays PLC upped their price objective 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. BMO Capital Markets reiterated a “hold” rating and issued a $35.00 price objective on shares of Terex Corporation in a report on Thursday, April 20th. J P Morgan Chase & Co upgraded shares of Terex Corporation from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $30.00 to $47.00 in a report on Tuesday, April 25th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $33.00 price objective on shares of Terex Corporation in a report on Wednesday, April 26th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $35.94.
Terex Corporation (TEX) opened at 39.44 on Monday. Terex Corporation has a 1-year low of $21.88 and a 1-year high of $39.90. The company has a 50-day moving average of $37.34 and a 200-day moving average of $33.55. The firm’s market capitalization is $3.77 billion.
Terex Corporation (NYSE:TEX) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the business posted $0.64 EPS. Terex Corporation’s revenue was down 8.9% compared to the same quarter last year.
Terex Corporation announced that its board has authorized a stock buyback program on Tuesday, May 30th that permits the company to buyback $280.00 million in shares. This buyback authorization permits the industrial products company to buy up to 8.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.32 annualized dividend and a dividend yield of 0.81%. Terex Corporation’s dividend payout ratio (DPR) is presently -50.79%.
In related news, SVP Kevin Bradley sold 3,000 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $39.00, for a total transaction of $117,000.00. Following the completion of the sale, the senior vice president now owns 45,612 shares of the company’s stock, valued at $1,778,868. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian J. Henry sold 7,512 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $33.48, for a total transaction of $251,501.76. Following the sale, the senior vice president now directly owns 322,993 shares of the company’s stock, valued at approximately $10,813,805.64. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 841 shares of company stock worth $29,607 and sold 71,508 shares worth $2,502,041. Corporate insiders own 2.50% of the company’s stock.
A number of large investors have recently bought and sold shares of TEX. BlackRock Inc. boosted 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 valued at $265,310,000 after buying an additional 8,378,659 shares in the last quarter. Vanguard Group Inc. boosted 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 valued at $251,180,000 after buying an additional 22,797 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $202,346,000 after buying an additional 943,237 shares in the last quarter. Alliancebernstein L.P. boosted 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 valued at $97,202,000 after buying an additional 1,908,447 shares in the last quarter. Finally, State Street Corp boosted 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 valued at $86,251,000 after buying an additional 30,608 shares in the last quarter. 90.89% 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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