Analysts Anticipate Terex Co. (TEX) to Announce $0.73 Earnings Per Share
Equities research analysts expect Terex Co. (NYSE:TEX) to announce earnings per share of $0.73 for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Terex’s earnings. The highest EPS estimate is $0.92 and the lowest is $0.68. Terex posted earnings of $0.50 per share in the same quarter last year, which indicates a positive year over year growth rate of 46%. The firm is scheduled to report its next earnings results on Tuesday, October 30th.
On average, analysts expect that Terex will report full year earnings of $2.90 per share for the current year, with EPS estimates ranging from $2.80 to $2.95. For the next year, analysts anticipate that the business will report earnings of $3.75 per share, with EPS estimates ranging from $3.45 to $4.09. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Terex.
Terex (NYSE:TEX) last issued its earnings results on Tuesday, July 31st. The industrial products company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.08. Terex had a net margin of 2.91% and a return on equity of 16.66%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.40 billion.
Shares of NYSE:TEX traded up $0.70 during midday trading on Wednesday, reaching $38.36. 902,200 shares of the company were exchanged, compared to its average volume of 1,469,614. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.19 and a current ratio of 2.11. Terex has a one year low of $35.30 and a one year high of $50.17. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 0.56 and a beta of 1.58.
Terex declared that its board has approved a stock buyback plan on Thursday, July 12th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Thursday, August 9th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, August 8th. This represents a $0.40 annualized dividend and a yield of 1.04%. Terex’s dividend payout ratio (DPR) is currently 29.63%.
In other news, SVP Brian J. Henry sold 5,000 shares of the stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $40.75, for a total value of $203,750.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Eric I. Cohen sold 12,502 shares of the stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $40.40, for a total transaction of $505,080.80. The disclosure for this sale can be found here. In the last three months, insiders bought 1,313 shares of company stock worth $52,641 and sold 50,645 shares worth $2,043,999. Corporate insiders own 3.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Delta Capital Management LLC purchased a new stake in shares of Terex in the second quarter valued at $212,000. DekaBank Deutsche Girozentrale purchased a new position in Terex in the 1st quarter worth about $184,000. Lido Advisors LLC purchased a new position in Terex in the 2nd quarter worth about $246,000. Strs Ohio purchased a new position in Terex in the 2nd quarter worth about $307,000. Finally, Pinnacle Associates Ltd. increased its stake in Terex by 32.4% in the 2nd quarter. Pinnacle Associates Ltd. now owns 8,170 shares of the industrial products company’s stock worth $345,000 after buying an additional 2,001 shares during the period. 98.73% of the stock is currently owned by institutional investors and hedge funds.
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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