Terex (NYSE:TEX) announced its earnings results on Tuesday. The industrial products company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.08, Bloomberg Earnings reports. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $999.18 million. Terex had a negative net margin of 2.62% and a positive return on equity of 7.01%.
Terex (NYSE TEX) traded down $1.53 during trading on Wednesday, hitting $41.43. 3,359,637 shares of the stock were exchanged, compared to its average volume of 1,200,814. Terex has a one year low of $28.67 and a one year high of $50.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.53 and a current ratio of 2.42. The firm has a market cap of $3,635.64, a P/E ratio of -48.80, a price-to-earnings-growth ratio of 1.70 and a beta of 1.71.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Friday, March 9th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.97%. This is an increase from Terex’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, March 8th. Terex’s dividend payout ratio is currently -37.21%.
Terex declared that its board has approved a share buyback program on Wednesday, February 7th that allows the company to buyback $325.00 million in shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
TEX has been the subject of a number of research analyst reports. Bank of America reduced their target price on shares of Terex from $42.00 to $40.00 and set an “underperform” rating for the company in a research note on Wednesday, November 8th. KeyCorp reaffirmed a “hold” rating on shares of Terex in a research note on Wednesday, November 1st. Robert W. Baird reaffirmed a “buy” rating and issued a $52.00 target price on shares of Terex in a research note on Thursday, December 21st. OTR Global raised shares of Terex to a “positive” rating in a research note on Tuesday, December 5th. Finally, Zacks Investment Research lowered shares of Terex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Terex currently has a consensus rating of “Hold” and an average target price of $44.71.
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Terex 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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