Wall Street analysts predict that Terex Co. (NYSE:TEX) will announce $1.12 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Terex’s earnings. The lowest sales estimate is $1.10 billion and the highest is $1.14 billion. Terex posted sales of $1.23 billion in the same quarter last year, which suggests a negative year over year growth rate of 8.9%. The business is expected to report its next earnings report on Thursday, November 7th.
On average, analysts expect that Terex will report full-year sales of $4.62 billion for the current fiscal year, with estimates ranging from $4.56 billion to $4.72 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $4.53 billion, with estimates ranging from $4.38 billion to $4.63 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Terex.
Terex (NYSE:TEX) last announced its quarterly earnings results on Monday, July 29th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company posted $0.98 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis.
TEX has been the topic of a number of recent analyst reports. Morgan Stanley set a $37.00 price target on shares of Terex and gave the stock a “hold” rating in a report on Thursday, May 2nd. BMO Capital Markets lowered their price target on shares of Terex to $30.00 and set a “market perform” rating on the stock in a report on Wednesday, July 31st. TheStreet raised shares of Terex from a “c” rating to a “b-” rating in a report on Thursday, May 2nd. ValuEngine raised shares of Terex from a “strong sell” rating to a “sell” rating in a report on Friday, August 2nd. Finally, Bank of America reissued an “underperform” rating and set a $28.00 price target (down from $33.00) on shares of Terex in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. Terex has a consensus rating of “Hold” and a consensus price target of $33.92.
In other Terex news, Director International Master F. Marcato sold 1,600,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $27.31, for a total transaction of $43,696,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 1,066 shares of company stock valued at $30,734 over the last 90 days. 4.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can boosted its stake in shares of 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 purchasing an additional 1,929 shares during the period. Geode Capital Management LLC lifted its stake 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 worth $18,242,000 after acquiring an additional 58,616 shares during the last quarter. Nordea Investment Management AB lifted its stake in Terex by 50.0% in the first quarter. Nordea Investment Management AB now owns 190,432 shares of the industrial products company’s stock worth $6,118,000 after acquiring an additional 63,469 shares during the last quarter. Norges Bank purchased a new position in Terex in the fourth quarter worth approximately $20,984,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Terex in the first quarter worth approximately $534,000. Institutional investors and hedge funds own 91.13% of the company’s stock.
NYSE TEX traded down $1.42 during mid-day trading on Wednesday, reaching $24.15. 1,839,300 shares of the stock were exchanged, compared to its average volume of 1,080,936. The business has a 50 day simple moving average of $29.57. Terex has a 1 year low of $23.90 and a 1 year high of $42.74. The stock has a market cap of $1.76 billion, a P/E ratio of 8.91, a P/E/G ratio of 0.84 and a beta of 1.73. The company has a quick ratio of 1.43, a current ratio of 2.21 and a debt-to-equity ratio of 1.68.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Monday, August 12th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Friday, August 9th. Terex’s dividend payout ratio is presently 16.24%.
Terex Company Profile
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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