Morgan Stanley Reaffirms Hold Rating for Terex Corp. (TEX)
A number of other analysts also recently weighed in on TEX. Jefferies Group reduced their target price on shares of Terex Corp. from $30.00 to $25.00 and set a buy rating on the stock in a report on Tuesday, May 31st. Goldman Sachs Group Inc. restated a buy rating and issued a $27.00 target price on shares of Terex Corp. in a report on Wednesday, June 8th. Zacks Investment Research downgraded shares of Terex Corp. from a buy rating to a hold rating in a report on Friday, July 8th. Stifel Nicolaus reiterated a buy rating and set a $25.00 price target (down from $30.00) on shares of Terex Corp. in a report on Tuesday, May 31st. Finally, JPMorgan Chase & Co. set a $20.00 price target on shares of Terex Corp. and gave the company a hold rating in a report on Friday, August 5th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $23.70.
Terex Corp. (NYSE:TEX) opened at 23.80 on Friday. Terex Corp. has a 12-month low of $13.62 and a 12-month high of $25.57. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 48.18 and a beta of 3.12. The stock’s 50 day moving average is $24.11 and its 200 day moving average is $23.10.
Terex Corp. (NYSE:TEX) last posted its 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. Terex Corp. had a net margin of 0.92% and a return on equity of 9.63%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $0.78 EPS. The business’s quarterly revenue was down 10.1% on a year-over-year basis. Equities analysts predict that Terex Corp. will post $0.96 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 19th. Stockholders of record on Wednesday, August 10th were given a $0.07 dividend. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.28 annualized dividend and a dividend yield of 1.18%. Terex Corp.’s payout ratio is presently 57.14%.
In related news, insider Matthew Fearon sold 3,632 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $24.69, for a total transaction of $89,674.08. Following the completion of the sale, the insider now owns 111,114 shares of the company’s stock, valued at $2,743,404.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian J. Henry sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $24.29, for a total transaction of $121,450.00. Following the sale, the senior vice president now directly owns 316,729 shares of the company’s stock, valued at approximately $7,693,347.41. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in Terex Corp. during the first quarter worth approximately $11,101,000. Stanley Capital Management LLC boosted its stake in Terex Corp. by 9.7% in the first quarter. Stanley Capital Management LLC now owns 131,324 shares of the company’s stock worth $3,267,000 after buying an additional 11,600 shares during the last quarter. Kennedy Capital Management Inc. purchased a new stake in Terex Corp. during the first quarter worth approximately $2,503,000. Geode Capital Management LLC boosted its stake in Terex Corp. by 6.2% in the first quarter. Geode Capital Management LLC now owns 669,634 shares of the company’s stock worth $16,660,000 after buying an additional 38,945 shares during the last quarter. Finally, AXA purchased a new stake in Terex Corp. during the first quarter worth approximately $5,872,000. 81.01% of the stock is owned by institutional investors.
Terex Corp. Company Profile
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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