Terex Corporation (TEX) Releases FY17 Earnings Guidance
Terex Corporation (NYSE:TEX) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of $1.20-1.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.17.
Several equities analysts have commented on the stock. Citigroup Inc. upped their price target on shares of Terex Corporation from $39.00 to $49.00 and gave the company a neutral rating in a research note on Friday, October 13th. Wells Fargo & Company set a $52.00 price target on shares of Terex Corporation and gave the company a buy rating in a research note on Monday, October 16th. Zacks Investment Research upgraded shares of Terex Corporation from a hold rating to a buy rating and set a $51.00 price target on the stock in a research note on Wednesday, October 11th. UBS AG set a $52.00 price target on shares of Terex Corporation and gave the company a buy rating in a research note on Wednesday, October 11th. Finally, Deutsche Bank AG downgraded shares of Terex Corporation from a buy rating to a hold rating and decreased their price target for the company from $44.00 to $43.00 in a research note on Thursday, September 21st. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $41.43.
Terex Corporation (NYSE:TEX) traded up 0.99% on Tuesday, hitting $47.11. The stock had a trading volume of 1,832,586 shares. Terex Corporation has a 1-year low of $21.88 and a 1-year high of $48.86. The company has a 50-day moving average price of $44.88 and a 200-day moving average price of $38.42. The stock’s market capitalization is $4.21 billion.
Terex Corporation (NYSE:TEX) last issued its 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. 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 was down 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 EPS. Equities analysts predict that Terex Corporation will post $1.15 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Thursday, November 9th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.68%. Terex Corporation’s dividend payout ratio is presently -50.79%.
Terex Corporation declared that its Board of Directors has initiated a share buyback 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 repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other Terex Corporation news, Director David A. Sachs bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average cost of $37.97 per share, for a total transaction of $113,910.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kevin A. Barr sold 11,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $38.63, for a total value of $424,930.00. Following the transaction, the insider now owns 127,653 shares in the company, valued at $4,931,235.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 4,264 shares of company stock worth $165,731 and have sold 98,679 shares worth $3,981,710. 2.50% of the stock is owned by insiders.
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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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