Terex Corp. (TEX) Shares Up 1.4%
Terex Corp. (NYSE:TEX) shares shot up 1.4% during mid-day 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 brokerages have issued reports on TEX. Morgan Stanley reissued a “buy” rating on shares of Terex Corp. in a research note on Tuesday, April 26th. Jefferies Group cut their target price on shares of Terex Corp. from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, May 31st. Goldman Sachs Group Inc. reissued a “buy” rating and set a $27.00 target price on shares of Terex Corp. in a research note on Wednesday, June 8th. Zacks Investment Research downgraded shares of Terex Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $25.00 target price (down from $30.00) on shares of Terex Corp. in a research note on Tuesday, May 31st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. Terex Corp. presently has an average rating of “Hold” and an average price target of $23.43.
The stock has a market capitalization of $2.63 billion and a P/E ratio of 49.07. The stock’s 50 day moving average price is $22.61 and its 200-day moving average price is $22.71.
Terex Corp. (NYSE:TEX) last announced 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. During the same period in the prior year, the business earned $0.78 earnings per share. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.61 billion. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. On average, equities analysts predict that Terex Corp. will post $0.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 19th. Stockholders of record on Wednesday, August 10th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, August 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.16%.
In related news, Director G Chris Andersen sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $24.02, for a total transaction of $480,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark I. Clair sold 5,000 shares of the firm’s 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 sale, the chief accounting officer now owns 66,570 shares in the company, valued at $1,411,284. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Terex Corp. stock. Airain ltd increased its position in Terex Corp. (NYSE:TEX) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,715 shares of the company’s stock after buying an additional 986 shares during the period. Airain ltd owned 0.07% of Terex Corp. worth $1,436,000 as of its most recent SEC filing.
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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