Terex Co. (NYSE:TEX) announced a quarterly dividend on Friday, February 9th, RTT News reports. Stockholders of record on Friday, March 9th will be paid a dividend of 0.10 per share by the industrial products company on Monday, March 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.96%. This is a boost from Terex’s previous quarterly dividend of $0.08.
Terex has increased its dividend by an average of 17.0% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Terex has a payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Terex to earn $2.26 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.2%.
Shares of Terex (NYSE TEX) traded up $0.38 during mid-day trading on Friday, hitting $41.87. The stock had a trading volume of 613,880 shares, compared to its average volume of 1,073,288. Terex has a 1-year low of $28.67 and a 1-year high of $50.17. The stock has a market capitalization of $3,520.00, a price-to-earnings ratio of -21.77, a price-to-earnings-growth ratio of 1.70 and a beta of 1.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.42 and a quick ratio of 1.53.
Terex announced that its Board of Directors has authorized a share buyback program on Wednesday, February 7th that allows the company to buyback $325.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
A number of equities research analysts have recently weighed in on the company. Citigroup boosted their price target on Terex from $39.00 to $49.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Barclays initiated coverage on Terex in a report on Tuesday, December 12th. They set an “equal weight” rating and a $50.00 target price for the company. ValuEngine downgraded Terex from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research downgraded Terex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, Wells Fargo & Co set a $52.00 target price on Terex and gave the stock a “buy” rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Terex has a consensus rating of “Hold” and an average price target of $44.71.
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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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