BMO Capital Markets reissued their hold rating on shares of Terex Corporation (NYSE:TEX) in a research report report published on Thursday, July 20th. The firm currently has a $35.00 target price on the industrial products company’s stock.
Other equities analysts have also recently issued reports about the company. Seaport Global Securities boosted their target price on Terex Corporation from $30.00 to $35.00 and gave the stock a neutral rating in a research report on Thursday, May 4th. Zacks Investment Research upgraded Terex Corporation from a sell rating to a hold rating in a report on Saturday, March 25th. BidaskClub upgraded Terex Corporation from a buy rating to a strong-buy rating in a report on Tuesday, June 13th. Royal Bank Of Canada reiterated a hold rating and issued a $33.00 price objective on shares of Terex Corporation in a report on Monday, June 5th. Finally, J P Morgan Chase & Co raised Terex Corporation from a neutral rating to an overweight rating and boosted their target price for the company from $30.00 to $47.00 in a research note on Tuesday, April 25th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $35.94.
Terex Corporation (NYSE:TEX) opened at 39.19 on Thursday. Terex Corporation has a one year low of $21.88 and a one year high of $39.99. The firm has a 50 day moving average of $37.34 and a 200 day moving average of $33.55. The firm’s market capitalization is $3.75 billion.
Terex Corporation (NYSE:TEX) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.09. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s revenue was down 8.9% on a year-over-year basis. Equities analysts forecast that Terex Corporation will post $1.13 EPS for the current year.
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Terex Corporation announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 30th that allows the company to buyback $280.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 8.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.32 annualized dividend and a dividend yield of 0.82%. Terex Corporation’s payout ratio is currently -50.79%.
In other Terex Corporation news, SVP Kevin Bradley sold 20,000 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $32.56, for a total transaction of $651,200.00. Following the sale, the senior vice president now directly owns 79,612 shares in the company, valued at approximately $2,592,166.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Brian J. Henry sold 7,512 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $33.48, for a total value of $251,501.76. Following the completion of the transaction, the senior vice president now owns 322,993 shares in the company, valued at $10,813,805.64. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 1,224 shares of company stock worth $44,403 and have sold 86,508 shares worth $3,085,841. Company insiders own 2.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in Terex Corporation by 19.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,685 shares of the industrial products company’s stock worth $212,000 after buying an additional 1,111 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Terex Corporation by 8.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 18,400 shares of the industrial products company’s stock worth $580,000 after buying an additional 1,380 shares in the last quarter. Norges Bank bought a new position in shares of Terex Corporation during the fourth quarter worth approximately $34,781,000. Creative Planning boosted its position in shares of Terex Corporation by 3.4% in the first quarter. Creative Planning now owns 9,221 shares of the industrial products company’s stock worth $290,000 after buying an additional 307 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Terex Corporation by 1.5% in the first quarter. Bank of Montreal Can now owns 46,148 shares of the industrial products company’s stock worth $1,448,000 after buying an additional 661 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.
About Terex Corporation
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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