Brokerages Anticipate Terex Co. (TEX) to Post $0.25 Earnings Per Share

Wall Street brokerages expect Terex Co. (NYSE:TEX) to announce earnings of $0.25 per share for the current quarter, according to Zacks. Nine analysts have made estimates for Terex’s earnings, with the lowest EPS estimate coming in at $0.21 and the highest estimate coming in at $0.34. Terex posted earnings of $0.07 per share during the same quarter last year, which indicates a positive year over year growth rate of 257.1%. The business is scheduled to issue its next earnings report on Tuesday, February 20th.

According to Zacks, analysts expect that Terex will report full-year earnings of $1.29 per share for the current financial year, with EPS estimates ranging from $1.25 to $1.36. For the next year, analysts expect that the business will post earnings of $2.23 per share, with EPS estimates ranging from $2.00 to $2.50. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Terex.

Terex (NYSE:TEX) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.14. Terex had a positive return on equity of 7.01% and a negative net margin of 2.62%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $0.19 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis.

Several research analysts have recently commented on TEX shares. Robert W. Baird reiterated a “buy” rating and issued a $52.00 price objective on shares of Terex in a report on Thursday. KeyCorp reiterated a “hold” rating on shares of Terex in a report on Wednesday, November 1st. Zacks Investment Research downgraded Terex from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Barclays started coverage on Terex in a report on Tuesday, December 12th. They issued an “equal weight” rating and a $50.00 price objective on the stock. Finally, OTR Global upgraded Terex to a “positive” rating in a report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Terex presently has a consensus rating of “Hold” and an average price target of $44.71.

Shares of Terex (NYSE:TEX) opened at $48.51 on Friday. Terex has a 12-month low of $28.67 and a 12-month high of $48.86. 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 capitalization of $3,997.27, a PE ratio of -56.41, a price-to-earnings-growth ratio of 3.29 and a beta of 1.88.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Thursday, November 9th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.66%. Terex’s dividend payout ratio is presently -37.21%.

Terex announced that its board has authorized a stock buyback plan on Wednesday, September 6th that permits the company to buyback $225.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 6.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

In other news, VP Mark I. Clair sold 3,014 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $45.53, for a total value of $137,227.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Eric I. Cohen sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the sale, the vice president now directly owns 195,980 shares in the company, valued at $8,819,100. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,111 shares of company stock worth $50,693. Insiders own 2.50% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Terex by 1,197.3% during the second quarter. JPMorgan Chase & Co. now owns 1,759,927 shares of the industrial products company’s stock worth $65,999,000 after buying an additional 1,624,263 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Terex by 51.0% during the second quarter. TIAA CREF Investment Management LLC now owns 3,624,339 shares of the industrial products company’s stock valued at $135,913,000 after acquiring an additional 1,224,422 shares during the period. Systematic Financial Management LP acquired a new position in shares of Terex during the third quarter valued at $42,612,000. 1060 Capital LLC acquired a new stake in Terex in the second quarter worth about $25,739,000. Finally, Prudential Financial Inc. lifted its holdings in Terex by 208.0% in the third quarter. Prudential Financial Inc. now owns 835,582 shares of the industrial products company’s stock worth $37,618,000 after purchasing an additional 564,300 shares during the period. 96.86% of the stock is currently owned by hedge funds and other institutional investors.

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About Terex

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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