Terex Corporation (NYSE:TEX) has been given a consensus rating of “Hold” by the twenty analysts that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $37.07.
TEX has been the subject of several research analyst reports. Bank of America Corporation downgraded shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Friday, April 28th. Credit Suisse Group set a $45.00 target price on shares of Terex Corporation and gave the stock a “buy” rating in a research note on Monday, June 26th. BMO Capital Markets reaffirmed a “hold” rating and set a $35.00 target price on shares of Terex Corporation in a research note on Thursday, July 20th. BidaskClub raised shares of Terex Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Thursday, June 15th.
In other Terex Corporation news, SVP Kevin Bradley sold 20,000 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $32.56, for a total value of $651,200.00. Following the sale, the senior vice president now owns 79,612 shares of the company’s stock, valued at approximately $2,592,166.72. The sale 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 firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $38.63, for a total transaction of $424,930.00. Following the completion of the sale, the insider now directly owns 127,653 shares in the company, valued at approximately $4,931,235.39. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 1,224 shares of company stock worth $44,403 and sold 97,508 shares worth $3,510,771. Corporate insiders own 2.50% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. M&T Bank Corp boosted its position in shares of Terex Corporation by 1.5% in the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock worth $279,000 after buying an additional 130 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its position in shares of Terex Corporation by 0.4% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 47,951 shares of the industrial products company’s stock worth $1,506,000 after buying an additional 170 shares during the period. Capstone Asset Management Co. boosted its position in shares of Terex Corporation by 1.5% in the second quarter. Capstone Asset Management Co. now owns 14,468 shares of the industrial products company’s stock worth $543,000 after buying an additional 220 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Terex Corporation by 4.7% in the second quarter. PNC Financial Services Group Inc. now owns 5,825 shares of the industrial products company’s stock worth $220,000 after buying an additional 262 shares during the period. Finally, Creative Planning boosted its position in shares of Terex Corporation by 3.4% in the first quarter. Creative Planning now owns 9,221 shares of the industrial products company’s stock worth $290,000 after buying an additional 307 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Terex Corporation (NYSE TEX) opened at 38.08 on Monday. Terex Corporation has a 1-year low of $21.88 and a 1-year high of $40.24. The firm’s market cap is $3.40 billion. The company’s 50 day moving average price is $38.00 and its 200-day moving average price is $33.92.
Terex Corporation (NYSE:TEX) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.42 by $0.09. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The company’s revenue was down 8.9% on a year-over-year basis. Equities analysts expect that Terex Corporation will post $1.15 EPS for the current fiscal year.
Terex Corporation announced that its board has initiated a stock buyback program on Tuesday, May 30th that permits the company to repurchase $280.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 8.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Wednesday, August 9th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.84%. The ex-dividend date is Monday, August 7th. Terex Corporation’s dividend payout ratio is presently -50.79%.
Terex Corporation 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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