Terex (NYSE:TEX) had its price objective reduced by UBS Group from $34.00 to $31.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the industrial products company’s stock.
Other equities research analysts also recently issued reports about the stock. ValuEngine upgraded shares of Terex from a strong sell rating to a sell rating in a report on Friday, August 2nd. Evercore ISI restated an in-line rating and issued a $31.00 target price (down from $40.00) on shares of Terex in a report on Friday, May 31st. BMO Capital Markets lowered their target price on shares of Terex to $30.00 and set a market perform rating for the company in a report on Wednesday, July 31st. TheStreet downgraded shares of Terex from a b- rating to a c+ rating in a report on Monday, August 26th. Finally, Royal Bank of Canada set a $35.00 target price on shares of Terex and gave the company a hold rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $33.33.
Shares of NYSE TEX traded up $0.72 during midday trading on Thursday, reaching $27.64. 64,396 shares of the stock were exchanged, compared to its average volume of 898,052. The company has a market capitalization of $1.94 billion, a P/E ratio of 10.20, a P/E/G ratio of 0.90 and a beta of 1.77. Terex has a 52-week low of $22.91 and a 52-week high of $42.74. The company has a current ratio of 2.21, a quick ratio of 1.43 and a debt-to-equity ratio of 1.68. The stock has a 50 day moving average price of $26.49 and a 200-day moving average price of $30.03.
Terex (NYSE:TEX) last issued its quarterly earnings results on Monday, July 29th. The industrial products company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.13). The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Terex had a return on equity of 27.40% and a net margin of 0.29%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. On average, analysts forecast that Terex will post 3.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Monday, August 12th will be issued a $0.11 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.44 dividend on an annualized basis and a yield of 1.59%. Terex’s payout ratio is 16.24%.
Institutional investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp lifted its position in Terex by 132.3% during the second quarter. Cibc World Markets Corp now owns 253,000 shares of the industrial products company’s stock valued at $7,944,000 after buying an additional 144,100 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in Terex by 4.9% during 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 buying an additional 1,929 shares in the last quarter. Geode Capital Management LLC lifted its position in Terex by 9.7% during 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 buying an additional 58,616 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Terex by 6.7% during the second quarter. Envestnet Asset Management Inc. now owns 24,983 shares of the industrial products company’s stock valued at $784,000 after buying an additional 1,565 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Terex by 50.0% during the first quarter. Nordea Investment Management AB now owns 190,432 shares of the industrial products company’s stock valued at $6,118,000 after buying an additional 63,469 shares in the last quarter. Hedge funds and other institutional investors own 88.31% of the company’s stock.
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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