$0.36 EPS Expected for Terex Corporation (TEX) This Quarter
Wall Street brokerages expect Terex Corporation (NYSE:TEX) to post earnings of $0.36 per share for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Terex Corporation’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.31. Terex Corporation posted earnings per share of $0.19 in the same quarter last year, which would suggest a positive year-over-year growth rate of 89.5%. The company is expected to report its next earnings results before the market opens on Wednesday, November 1st.
On average, analysts expect that Terex Corporation will report full-year earnings of $1.16 per share for the current fiscal year, with EPS estimates ranging from $1.10 to $1.23. For the next year, analysts forecast that the business will post earnings of $2.06 per share, with EPS estimates ranging from $1.55 to $2.50. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Terex Corporation.
Terex Corporation (NYSE:TEX) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating the 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 business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the business posted $0.64 EPS. The business’s quarterly revenue was down 8.9% compared to the same quarter last year.
Several research firms have recently issued reports on TEX. Citigroup Inc. raised their price target on Terex Corporation from $39.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Wells Fargo & Company set a $52.00 price target on Terex Corporation and gave the stock a “buy” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded Terex Corporation from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Wednesday, October 11th. UBS AG set a $52.00 price target on Terex Corporation and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Finally, Deutsche Bank AG lowered Terex Corporation from a “buy” rating to a “hold” rating and reduced their price target for the stock from $44.00 to $43.00 in a research report on Thursday, September 21st. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Terex Corporation has an average rating of “Hold” and a consensus target price of $41.43.
Terex Corporation (NYSE TEX) traded up 0.60% during trading on Friday, hitting $47.04. 115,364 shares of the stock traded hands. Terex Corporation has a 12 month low of $21.88 and a 12 month high of $47.28. The stock’s market cap is $4.21 billion. The firm’s 50-day moving average is $44.20 and its 200-day moving average is $38.06.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Thursday, November 9th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Wednesday, November 8th. Terex Corporation’s dividend payout ratio is currently -50.79%.
Terex Corporation announced that its board has initiated a share repurchase plan on Wednesday, September 6th that authorizes the company to repurchase $225.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
In related news, VP Eric I. Cohen sold 10,000 shares of Terex Corporation stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the sale, the vice president now owns 195,980 shares of the company’s stock, valued at $8,819,100. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steve Filipov sold 4,564 shares of Terex Corporation stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $38.22, for a total value of $174,436.08. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 4,264 shares of company stock worth $165,731 and sold 98,679 shares worth $3,981,710. 2.50% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of TEX. BlackRock Inc. grew its holdings in Terex Corporation by 11,851.5% during the first quarter. BlackRock Inc. now owns 8,449,356 shares of the industrial products company’s stock worth $265,310,000 after purchasing an additional 8,378,659 shares during the period. JPMorgan Chase & Co. grew its holdings in Terex Corporation by 1,197.3% during the second quarter. JPMorgan Chase & Co. now owns 1,759,927 shares of the industrial products company’s stock worth $65,999,000 after purchasing an additional 1,624,263 shares during the period. TIAA CREF Investment Management LLC grew its holdings in Terex Corporation by 51.0% during the second quarter. TIAA CREF Investment Management LLC now owns 3,624,339 shares of the industrial products company’s stock worth $135,913,000 after purchasing an additional 1,224,422 shares during the period. 1060 Capital LLC bought a new position in Terex Corporation during the second quarter worth about $25,739,000. Finally, Jennison Associates LLC grew its holdings in Terex Corporation by 123.1% during the second quarter. Jennison Associates LLC now owns 1,071,708 shares of the industrial products company’s stock worth $40,189,000 after purchasing an additional 591,334 shares during the period. Institutional investors and hedge funds own 97.39% of the company’s stock.
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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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