Terex (NYSE:TEX) Releases Quarterly Earnings Results, Meets Expectations

Terex (NYSE:TEXGet Free Report) issued its quarterly earnings results on Friday. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41, Briefing.com reports. Terex had a return on equity of 34.44% and a net margin of 10.06%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company posted $1.34 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year.

Terex Stock Down 8.5 %

NYSE:TEX opened at $58.85 on Friday. The stock’s fifty day moving average price is $57.71 and its two-hundred day moving average price is $55.80. Terex has a 52-week low of $41.89 and a 52-week high of $65.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.06 and a current ratio of 2.11. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 7.75, a P/E/G ratio of 0.80 and a beta of 1.67.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, March 7th. Terex’s dividend payout ratio is 8.96%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TEX. Bank of America reiterated an “underperform” rating and issued a $57.00 price objective on shares of Terex in a research note on Friday, January 19th. StockNews.com lowered Terex from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. The Goldman Sachs Group lowered their price objective on Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, October 30th. Barclays lowered their price objective on Terex from $66.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 18th. Finally, UBS Group lowered their price objective on Terex from $75.00 to $61.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Terex currently has an average rating of “Hold” and an average target price of $61.93.

Get Our Latest Analysis on Terex

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TEX. Macquarie Group Ltd. acquired a new stake in Terex during the 1st quarter worth $61,361,000. Norges Bank acquired a new stake in Terex during the 4th quarter worth $30,229,000. Renaissance Technologies LLC raised its stake in Terex by 110.8% during the 1st quarter. Renaissance Technologies LLC now owns 833,600 shares of the industrial products company’s stock worth $29,726,000 after buying an additional 438,200 shares during the period. BlackRock Inc. raised its stake in Terex by 5.3% during the 1st quarter. BlackRock Inc. now owns 8,373,481 shares of the industrial products company’s stock worth $298,598,000 after buying an additional 417,925 shares during the period. Finally, Balyasny Asset Management LLC raised its stake in Terex by 886.5% during the 3rd quarter. Balyasny Asset Management LLC now owns 379,369 shares of the industrial products company’s stock worth $11,282,000 after buying an additional 340,911 shares during the period. Institutional investors and hedge funds own 93.39% of the company’s stock.

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.

See Also

Earnings History for Terex (NYSE:TEX)

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