Terex Corporation (TEX) Releases Earnings Results

Terex Corporation (NYSE:TEX) released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.42 by $0.09, Briefing.com reports. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The business’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS.

Shares of Terex Corporation (NYSE TEX) traded down 0.48% during trading on Friday, hitting $37.53. 1,524,861 shares of the stock were exchanged. Terex Corporation has a one year low of $21.88 and a one year high of $40.24. The stock’s 50 day moving average price is $38.35 and its 200-day moving average price is $34.12. The company’s market cap is $3.36 billion.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, August 7th. Terex Corporation’s dividend payout ratio (DPR) is presently -50.79%.

Terex Corporation declared that its Board of Directors has approved a share buyback program on Tuesday, May 30th that authorizes the company to buyback $280.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 8.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

In other news, SVP Kevin Bradley sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $33.70, for a total value of $168,500.00. Following the sale, the senior vice president now directly owns 74,612 shares of the company’s stock, valued at approximately $2,514,424.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steve Filipov sold 4,564 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $38.22, for a total transaction of $174,436.08. The disclosure for this sale can be found here. Over the last three months, insiders bought 1,224 shares of company stock worth $44,403 and sold 85,464 shares worth $3,167,075. 2.50% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. Sei Investments Co. increased its stake in shares of Terex Corporation by 19.5% in the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock valued at $142,000 after buying an additional 619 shares during the last quarter. Clear Perspective Advisors LLC acquired a new stake in shares of Terex Corporation during the second quarter valued at $198,000. PNC Financial Services Group Inc. increased its stake in shares of Terex Corporation by 7.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock valued at $175,000 after buying an additional 403 shares during the last quarter. CIBC World Markets Inc. acquired a new stake in shares of Terex Corporation during the second quarter valued at $210,000. Finally, National Planning Corp acquired a new stake in shares of Terex Corporation during the second quarter valued at $209,000. 99.28% of the stock is currently owned by hedge funds and other institutional investors.

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Several analysts have recently issued reports on the stock. Goldman Sachs Group, Inc. (The) cut shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Thursday, June 15th. Deutsche Bank AG set a $44.00 target price on shares of Terex Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. Credit Suisse Group restated an “outperform” rating and set a $40.00 target price (up from $38.00) on shares of Terex Corporation in a research report on Thursday, May 4th. TheStreet upgraded shares of Terex Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Finally, J P Morgan Chase & Co upgraded shares of Terex Corporation from a “neutral” rating to an “overweight” rating and upped their target price for the company from $30.00 to $47.00 in a research report on Tuesday, April 25th. Four analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Terex Corporation presently has a consensus rating of “Hold” and an average target price of $36.63.

Terex Corporation 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.

Earnings History for Terex Corporation (NYSE:TEX)

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