Terex Corp. (TEX) Trading 1.4% Higher
Terex Corp. (NYSE:TEX) traded up 1.4% during trading on Friday . The stock traded as high as $24.44 and last traded at $24.33, with a volume of 303,592 shares changing hands. The stock had previously closed at $24.00.
Several equities research analysts recently commented on the company. Jefferies Group cut Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a report on Tuesday, August 9th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $20.00 target price on Terex Corp. and gave the stock a “hold” rating in a research note on Friday, August 5th. Stifel Nicolaus set a $29.00 target price on Terex Corp. and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Barclays PLC cut their target price on Terex Corp. from $25.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, July 11th. Finally, Zacks Investment Research cut Terex Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. Terex Corp. presently has a consensus rating of “Hold” and an average target price of $23.43.
The stock’s 50-day moving average price is $22.49 and its 200-day moving average price is $22.69. The company has a market capitalization of $2.63 billion and a PE ratio of 49.07.
Terex Corp. (NYSE:TEX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.61 billion. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. Equities research analysts anticipate that Terex Corp. will post $0.95 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 19th. Shareholders of record on Wednesday, August 10th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Monday, August 8th.
In other Terex Corp. news, CAO Mark I. Clair sold 5,000 shares of the stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $21.20, for a total transaction of $106,000.00. Following the transaction, the chief accounting officer now owns 66,570 shares of the company’s stock, valued at approximately $1,411,284. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director G Chris Andersen sold 20,000 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $24.02, for a total value of $480,400.00. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Terex Corp. stock. Mutual of America Capital Management LLC raised its position in Terex Corp. (NYSE:TEX) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,104 shares of the company’s stock after buying an additional 2,640 shares during the period. Mutual of America Capital Management LLC owned approximately 0.07% of Terex Corp. worth $1,388,000 at the end of the most recent quarter.
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.
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