Terex Corporation (TEX) to Release Quarterly Earnings on Wednesday
Terex Corporation (NYSE:TEX) will announce its earnings results before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of $0.33 per share for the quarter.
Terex Corporation (NYSE:TEX) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the company earned $0.64 EPS. Terex Corporation’s revenue was down 8.9% on a year-over-year basis. On average, analysts expect Terex Corporation to post $1.15 EPS for the current fiscal year and $2.10 EPS for the next fiscal year.
Terex Corporation (NYSE TEX) opened at 46.89 on Wednesday. The firm’s market cap is $4.19 billion. Terex Corporation has a one year low of $21.88 and a one year high of $47.28. The stock has a 50 day moving average price of $43.98 and a 200-day moving average price of $38.00.
Terex Corporation announced that its Board of Directors has initiated a stock buyback program on Wednesday, September 6th that permits the company to buyback $225.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Thursday, November 9th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, November 8th. Terex Corporation’s dividend payout ratio is -50.79%.
TEX has been the subject of a number of recent research reports. BMO Capital Markets restated a “hold” rating and set a $35.00 price target on shares of Terex Corporation in a report on Monday, August 21st. Citigroup Inc. upped their target price on Terex Corporation from $39.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Deutsche Bank AG set a $44.00 target price on Terex Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Royal Bank Of Canada restated a “hold” rating and issued a $38.00 price target on shares of Terex Corporation in a research note on Wednesday, September 13th. Finally, UBS AG set a $52.00 price target on Terex Corporation and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.43.
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In other Terex Corporation news, VP Eric I. Cohen sold 10,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the transaction, the vice president now owns 195,980 shares in the company, valued at $8,819,100. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kieran Hegarty sold 15,115 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $43.23, for a total transaction of $653,421.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 4,264 shares of company stock valued at $165,731 and have sold 98,679 shares valued at $3,981,710. Insiders own 2.50% of the company’s stock.
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.
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