Terex (NYSE: TEX) publishes earnings results, falling short of expectations by $ 0.06 per share
Terex (NYSE: TEX) released its quarterly results on Wednesday. The industrial products company reported $ 0.67 EPS for the quarter, missing analysts’ consensus estimates of $ 0.73 to ($ 0.06). MarketWatch Profits reported. Terex had a return on equity of 15.86% and a net margin of 3.98%. The company had revenue of $ 993.80 million for the quarter, compared to the consensus estimate of $ 1.01 billion. For the same period last year, the company had earnings per share of $ 0.31. The company’s revenue increased 29.8% for the quarter compared to the same quarter last year.
The TEX share traded around USD 1.22 during trading on Friday and reached USD 44.80. The company’s stock had a trading volume of 1,412,602 shares compared to an average volume of 675,924 shares. Terex has a 1-year low of $ 24.36 and a 1-year high of $ 55.60. The company has a quick ratio of 1.36, a current ratio of 2.11, and leverage of 0.86. The company has a market cap of $ 3.13 billion, a P / E of 23.09, and a beta of 1.67. The company’s fifty-day moving average is $ 46.42 and the company’s 200-day moving average is $ 47.50.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 17th. Shareholders of record on Tuesday, November 9th, will receive a dividend of $ 0.12. The ex-dividend date of this dividend is Monday November 8th. This equates to an annual dividend of $ 0.48 and a yield of 1.07%. Terex’s payout ratio is currently 369.23%.
Several equity analysts recently published reports on TEX shares. In a research report on Tuesday, August 3rd, Stifel Nicolaus confirmed a “Buy” rating for Terex shares. Evercore ISI has lowered its price target for Terex from USD 74.00 to USD 67.00 and rated the stock as “outperform” in a research report on Thursday, October 14th. Deutsche Bank Aktiengesellschaft lowered its price target for Terex from USD 55.00 to USD 51.00 and rated the share as a “buy” in a research report on Monday. TheStreet upgraded Terex from a “c” rating to a “b-” rating in a research report on Thursday, July 29th. Finally, Barclays raised its price target for Terex from $ 50.00 to $ 55.00 and rated the company as “equilibrium” in a research report on Monday, August 2nd. Four investment analysts have given the stock a hold rating and twelve with a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $ 52.00.
In other Terex news, VP Amy George sold 4,892 shares of the stock in a transaction dated Thursday, August 12th. The shares were sold at an average price of $ 53.75 for a total transaction of $ 262,945.00. Upon completion of the transaction, the Vice President now owns 98,935 shares in the company valued at approximately $ 5,317,756.25. The transaction was announced in a legal filing with the Securities & Exchange Commission, which can be accessed via the SEC website. Company insiders own 2.90% of the company’s shares.
An institutional investor recently increased its position in Terex stocks. Morgan Stanley increased its stake in Terex Co. (NYSE: TEX) 56.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The company owned 525,891 shares in the industrial products company after purchasing an additional 188,984 shares during the quarter. Morgan Stanley owned approximately 0.75% of Terex, valued at $ 25,042,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 85.23% of the company’s stock.
Terex Corp. deals with the production of aerial work platforms, cranes and material processing machines. The company designs, builds and supports products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. It operates in the following segments: aerial work platforms and material processing.
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