Terex (NYSE:TEX) Issues Earnings Results, Hits Estimates

Terex (NYSE:TEXGet Free Report) released its quarterly earnings data on Friday. The industrial products company reported $1.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.41, Briefing.com reports. Terex had a net margin of 10.06% and a return on equity of 32.89%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the firm earned $1.34 earnings per share. The business’s quarterly revenue was up .4% compared to the same quarter last year.

Terex Trading Down 8.5 %

Terex stock opened at $58.85 on Monday. The company has a current ratio of 2.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.37. Terex has a 12 month low of $41.89 and a 12 month high of $65.64. The stock’s 50 day simple moving average is $57.71 and its two-hundred day simple moving average is $55.79. The firm has a market cap of $3.96 billion, a PE ratio of 7.75, a P/E/G ratio of 0.80 and a beta of 1.67.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 19th. Investors of record on Friday, March 8th will be given a $0.17 dividend. The ex-dividend date is Thursday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. Terex’s dividend payout ratio is currently 8.96%.

Insiders Place Their Bets

In other Terex news, CEO John L. Garrison, Jr. sold 45,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $59.00, for a total value of $2,655,000.00. Following the completion of the sale, the chief executive officer now directly owns 492,121 shares of the company’s stock, valued at approximately $29,035,139. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO John L. Garrison, Jr. sold 45,000 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $59.00, for a total transaction of $2,655,000.00. Following the completion of the transaction, the chief executive officer now directly owns 492,121 shares in the company, valued at approximately $29,035,139. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David A. Sachs purchased 25,000 shares of the stock in a transaction dated Monday, December 11th. The shares were acquired at an average price of $51.16 per share, with a total value of $1,279,000.00. Following the completion of the acquisition, the director now owns 62,500 shares in the company, valued at approximately $3,197,500. The disclosure for this purchase can be found here. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Terex

A number of hedge funds and other institutional investors have recently bought and sold shares of TEX. Public Employees Retirement System of Ohio boosted its stake in shares of Terex by 5.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,464 shares of the industrial products company’s stock valued at $162,000 after buying an additional 287 shares during the period. US Bancorp DE boosted its stake in shares of Terex by 7.0% in the 4th quarter. US Bancorp DE now owns 5,694 shares of the industrial products company’s stock valued at $327,000 after buying an additional 371 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Terex in the 1st quarter valued at about $28,000. First Republic Investment Management Inc. boosted its stake in shares of Terex by 12.7% in the 1st quarter. First Republic Investment Management Inc. now owns 5,544 shares of the industrial products company’s stock valued at $268,000 after buying an additional 624 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in shares of Terex by 2.0% in the 1st quarter. Yousif Capital Management LLC now owns 37,276 shares of the industrial products company’s stock valued at $1,329,000 after buying an additional 747 shares during the period. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TEX. Jefferies Financial Group downgraded shares of Terex from a “buy” rating to a “hold” rating and reduced their target price for the stock from $73.00 to $63.00 in a research note on Wednesday, December 20th. JPMorgan Chase & Co. dropped their target price on shares of Terex from $72.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, October 16th. Barclays dropped their target price on shares of Terex from $66.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 18th. The Goldman Sachs Group decreased their price target on shares of Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, October 30th. Finally, StockNews.com downgraded shares of Terex from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.93.

Check Out Our Latest Stock Analysis on TEX

Terex Company Profile

(Get Free Report)

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment designs, manufactures, services, and markets aerial work platform equipment, utility equipment, and telehandlers under the Terex and Genie brands.

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Earnings History for Terex (NYSE:TEX)

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