Brokerages expect that Terex Co. (NYSE:TEX) will announce $999.18 million in sales for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Terex’s earnings. The lowest sales estimate is $990.50 million and the highest is $1.04 billion. Terex posted sales of $974.70 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.5%. The business is scheduled to report its next earnings results before the market opens on Wednesday, February 14th.
On average, analysts expect that Terex will report full year sales of $999.18 million for the current fiscal year, with estimates ranging from $4.29 billion to $4.34 billion. For the next financial year, analysts forecast that the firm will report sales of $4.58 billion per share, with estimates ranging from $4.50 billion to $4.69 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Terex.
Several equities research analysts have recently weighed in on the stock. Robert W. Baird reissued a “buy” rating and issued a $52.00 target price on shares of Terex in a research report on Thursday, December 21st. KeyCorp reissued a “hold” rating on shares of Terex in a research report on Wednesday, November 1st. Zacks Investment Research downgraded shares of Terex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Barclays assumed coverage on shares of Terex in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $50.00 target price for the company. Finally, OTR Global raised shares of Terex to a “positive” rating in a research report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $44.71.
Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its position in shares of Terex by 4.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,825 shares of the industrial products company’s stock valued at $220,000 after buying an additional 262 shares during the last quarter. Cowen Inc. bought a new stake in shares of Terex during the 3rd quarter valued at about $675,000. Cubist Systematic Strategies LLC bought a new position in Terex in the 3rd quarter worth about $499,000. Oakbrook Investments LLC bought a new position in Terex in the 3rd quarter worth about $320,000. Finally, Crossmark Global Holdings Inc. bought a new position in Terex in the 3rd quarter worth about $677,000. 95.80% of the stock is owned by institutional investors and hedge funds.
Terex (NYSE TEX) opened at $43.23 on Tuesday. The company has a market cap of $3,640.00, a price-to-earnings ratio of -22.52, a price-to-earnings-growth ratio of 1.67 and a beta of 1.71. Terex has a 1-year low of $28.67 and a 1-year high of $50.17. 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 repurchase plan on Wednesday, February 7th that allows the company to buyback $325.00 million in shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Friday, March 9th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, March 8th. This is an increase from Terex’s previous quarterly dividend of $0.08. Terex’s dividend payout ratio is currently -16.67%.
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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