Analysts at Credit Agricole SA began coverage on shares of Terex Corp. (NYSE:TEX) in a report released on Friday. The firm set a “buy” rating on the stock.
TEX has been the topic of several other reports. Barclays PLC lowered their target price on Terex Corp. from $25.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, July 11th. Bank of America Corp. restated an “underperform” rating on shares of Terex Corp. in a research note on Thursday, July 7th. Zacks Investment Research upgraded Terex Corp. from a “strong sell” rating to a “hold” rating in a research note on Monday, September 12th. Stifel Nicolaus set a $29.00 price objective on Terex Corp. and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $20.00 price objective on Terex Corp. and gave the company a “hold” rating in a research note on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $23.70.
Shares of Terex Corp. (NYSE:TEX) opened at 24.29 on Friday. The stock’s 50 day moving average price is $24.10 and its 200-day moving average price is $23.19. The company has a market cap of $2.64 billion, a PE ratio of 49.17 and a beta of 3.12. Terex Corp. has a 52 week low of $13.62 and a 52 week high of $25.57.
Terex Corp. (NYSE:TEX) last issued its earnings results on Tuesday, August 2nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.10. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.61 billion. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The business’s revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. Analysts expect that Terex Corp. will post $0.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Wednesday, August 10th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, August 8th. Terex Corp.’s payout ratio is currently 57.14%.
In other news, insider Matthew Fearon sold 3,632 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $24.69, for a total value of $89,674.08. Following the completion of the sale, the insider now owns 111,114 shares of the company’s stock, valued at approximately $2,743,404.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director G Chris Andersen sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $24.02, for a total value of $480,400.00. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. raised its stake in Terex Corp. by 148.4% in the first quarter. Pacad Investment Ltd. now owns 30,300 shares of the company’s stock worth $754,000 after buying an additional 18,100 shares during the period. Franklin Resources Inc. raised its stake in Terex Corp. by 55.1% in the first quarter. Franklin Resources Inc. now owns 287,000 shares of the company’s stock worth $7,141,000 after buying an additional 102,000 shares during the period. BlackRock Inc. raised its stake in Terex Corp. by 9.6% in the first quarter. BlackRock Inc. now owns 49,600 shares of the company’s stock worth $1,234,000 after buying an additional 4,347 shares during the period. BlackRock Group LTD raised its stake in Terex Corp. by 31.0% in the first quarter. BlackRock Group LTD now owns 85,515 shares of the company’s stock worth $2,126,000 after buying an additional 20,240 shares during the period. Finally, Landscape Capital Management L.L.C. raised its stake in Terex Corp. by 31.7% in the first quarter. Landscape Capital Management L.L.C. now owns 49,100 shares of the company’s stock worth $1,222,000 after buying an additional 11,821 shares during the period. 81.01% of the stock is owned by institutional investors.
About Terex Corp.
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.
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