Terex Corporation’s (TEX) Hold Rating Reiterated at Royal Bank Of Canada
Royal Bank Of Canada reiterated their hold rating on shares of Terex Corporation (NYSE:TEX) in a research report released on Wednesday. Royal Bank Of Canada currently has a $38.00 target price on the industrial products company’s stock.
Several other research analysts have also recently issued reports on TEX. Credit Suisse Group set a $45.00 price target on Terex Corporation and gave the company a buy rating in a report on Monday, June 26th. BMO Capital Markets reaffirmed a hold rating and issued a $35.00 price target on shares of Terex Corporation in a report on Thursday, July 20th. BidaskClub raised Terex Corporation from a buy rating to a strong-buy rating in a report on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) cut Terex Corporation from a buy rating to a neutral rating and set a $37.00 price target on the stock. in a report on Thursday, June 15th. Finally, Wells Fargo & Company reaffirmed an outperform rating and issued a $41.00 price target (up previously from $38.50) on shares of Terex Corporation in a report on Monday, June 19th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $38.00.
Terex Corporation (NYSE TEX) opened at 43.47 on Wednesday. The stock’s market capitalization is $3.89 billion. Terex Corporation has a 1-year low of $21.88 and a 1-year high of $43.67. The company has a 50-day moving average price of $39.01 and a 200 day moving average price of $35.16.
Terex Corporation (NYSE:TEX) last announced 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 firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. On average, equities analysts predict that Terex Corporation will post $1.15 EPS for the current year.
ILLEGAL ACTIVITY WARNING: “Terex Corporation’s (TEX) Hold Rating Reiterated at Royal Bank Of Canada” was originally published by Daily Political and is owned by of Daily Political. If you are viewing this story on another domain, it was stolen and reposted in violation of US & international copyright and trademark law. The legal version of this story can be read at https://www.dailypolitical.com/2017/09/17/terex-corporations-tex-hold-rating-reiterated-at-royal-bank-of-canada.html.
Terex Corporation announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 30th that permits the company to buyback $280.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 8.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Monday, August 7th. Terex Corporation’s dividend payout ratio (DPR) is currently -50.79%.
In other news, insider Kevin A. Barr sold 15,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $38.92, for a total transaction of $583,800.00. Following the transaction, the insider now directly owns 143,304 shares in the company, valued at approximately $5,577,391.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kevin Bradley sold 3,000 shares of the business’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $37.30, for a total transaction of $111,900.00. Following the transaction, the senior vice president now owns 51,612 shares in the company, valued at $1,925,127.60. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 4,202 shares of company stock worth $159,449 and have sold 87,560 shares worth $3,410,477. 2.50% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of TEX. BlackRock Inc. grew its holdings in shares of Terex Corporation by 11,851.5% during the 1st quarter. BlackRock Inc. now owns 8,449,356 shares of the industrial products company’s stock valued at $265,310,000 after acquiring an additional 8,378,659 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Terex Corporation by 160.8% during the 1st quarter. Alliancebernstein L.P. now owns 3,095,591 shares of the industrial products company’s stock valued at $97,202,000 after acquiring an additional 1,908,447 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Terex Corporation by 1,197.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,759,927 shares of the industrial products company’s stock valued at $65,999,000 after acquiring an additional 1,624,263 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Terex Corporation by 51.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,624,339 shares of the industrial products company’s stock valued at $135,913,000 after acquiring an additional 1,224,422 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Terex Corporation by 17.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,444,169 shares of the industrial products company’s stock valued at $202,346,000 after acquiring an additional 943,237 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.
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.
Receive News & Ratings for Terex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.