Terex (NYSE:TEX) PT Lowered to $31.00 at Morgan Stanley

Terex (NYSE:TEX) had its target price cut by Morgan Stanley from $34.00 to $31.00 in a research report sent to investors on Wednesday, AnalystRatings.com reports. They currently have an equal weight rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets decreased their price objective on shares of Terex to $30.00 and set a market perform rating for the company in a research note on Wednesday, July 31st. Bank of America decreased their price objective on shares of Terex from $27.00 to $22.00 and set an underperform rating for the company in a research note on Wednesday, September 25th. UBS Group decreased their price objective on shares of Terex from $34.00 to $31.00 and set a neutral rating for the company in a research note on Thursday, September 12th. Royal Bank of Canada set a $35.00 price objective on shares of Terex and gave the stock a hold rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Co decreased their price objective on shares of Terex from $35.00 to $28.00 and set a market perform rating for the company in a research note on Wednesday, September 25th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. Terex currently has an average rating of Hold and a consensus price target of $30.50.

Terex stock opened at $24.93 on Wednesday. Terex has a 1 year low of $22.84 and a 1 year high of $38.57. The firm has a 50 day moving average price of $25.41 and a 200 day moving average price of $28.90. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 1.00 and a beta of 1.73. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.43 and a current ratio of 2.21.

Terex (NYSE:TEX) last released its quarterly earnings data on Monday, July 29th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.13). Terex had a return on equity of 27.40% and a net margin of 0.29%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Terex’s quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts predict that Terex will post 3.57 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Monday, August 12th were given a dividend of $0.11 per share. The ex-dividend date was Friday, August 9th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.76%. Terex’s payout ratio is currently 16.24%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cibc World Markets Corp lifted its position in shares of Terex by 132.3% during the second quarter. Cibc World Markets Corp now owns 253,000 shares of the industrial products company’s stock worth $7,944,000 after purchasing an additional 144,100 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in Terex by 4.9% in the first quarter. Great West Life Assurance Co. Can now owns 41,450 shares of the industrial products company’s stock valued at $1,331,000 after acquiring an additional 1,929 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Terex by 6.7% in the second quarter. Envestnet Asset Management Inc. now owns 24,983 shares of the industrial products company’s stock valued at $784,000 after acquiring an additional 1,565 shares in the last quarter. Geode Capital Management LLC raised its holdings in Terex by 9.7% in the fourth quarter. Geode Capital Management LLC now owns 661,708 shares of the industrial products company’s stock valued at $18,242,000 after acquiring an additional 58,616 shares in the last quarter. Finally, First Mercantile Trust Co. raised its holdings in Terex by 32.1% in the second quarter. First Mercantile Trust Co. now owns 4,610 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 1,120 shares in the last quarter. 88.24% of the stock is currently owned by institutional investors and hedge funds.

About Terex

Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.

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Analyst Recommendations for Terex (NYSE:TEX)

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