Shares of Terex Co. (NYSE:TEX) were down 5.1% on Friday after TheStreet downgraded the stock from a b rating to a c rating. The stock traded as low as $40.97 and last traded at $41.03. Approximately 2,451,437 shares traded hands during mid-day trading, an increase of 85% from the average daily volume of 1,323,089 shares. The stock had previously closed at $43.24.
Several other analysts also recently weighed in on the stock. OTR Global raised shares of Terex to a “positive” rating in a research note on Tuesday, December 5th. Zacks Investment Research downgraded shares of Terex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Robert W. Baird reissued a “buy” rating and issued a $52.00 price target on shares of Terex in a research note on Thursday, December 21st. Barclays initiated coverage on shares of Terex in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $50.00 price target for the company. Finally, KeyCorp restated a “hold” rating on shares of Terex in a research report on Wednesday, November 1st. 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 assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $46.07.
In related news, VP Mark I. Clair sold 3,014 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $45.53, for a total transaction of $137,227.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Eric I. Cohen sold 10,121 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $49.90, for a total transaction of $505,037.90. Following the transaction, the vice president now owns 185,897 shares in the company, valued at approximately $9,276,260.30. The disclosure for this sale can be found here. Insiders acquired 987 shares of company stock worth $44,638 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.
The company has a current ratio of 2.30, a quick ratio of 1.53 and a debt-to-equity ratio of 0.80. The stock has a market cap of $3,636.48, a PE ratio of 30.39, a PEG ratio of 1.05 and a beta of 1.71.
Terex (NYSE:TEX) last announced its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.08. Terex had a net margin of 2.95% and a return on equity of 8.80%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $999.18 million. research analysts forecast that Terex Co. will post 2.55 earnings per share for the current year.
The business also recently declared 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. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.40 annualized dividend and a dividend yield of 0.97%. This is a boost from Terex’s previous quarterly dividend of $0.08. Terex’s payout ratio is currently 23.70%.
Terex declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that authorizes the company to buyback $325.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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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