Terex Corporation (NYSE:TEX)‘s stock had its “hold” rating reiterated by analysts at Royal Bank Of Canada in a report released on Monday, June 5th. They currently have a $33.00 target price on the industrial products company’s stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 5.09% from the company’s previous close.
A number of other research firms have also recently issued reports on TEX. Zacks Investment Research raised Terex Corporation from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, February 14th. Deutsche Bank AG raised Terex Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $36.00 to $37.00 in a research report on Monday, February 27th. Credit Suisse Group set a $38.00 price target on Terex Corporation and gave the stock a “buy” rating in a research report on Saturday, February 25th. BMO Capital Markets reaffirmed a “hold” rating and issued a $35.00 price target on shares of Terex Corporation in a research report on Thursday, April 20th. Finally, Citigroup Inc. assumed coverage on Terex Corporation in a research report on Monday, February 6th. They issued a “neutral” rating and a $36.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Terex Corporation presently has a consensus rating of “Hold” and a consensus price target of $34.31.
Shares of Terex Corporation (NYSE:TEX) opened at 34.77 on Monday. The firm’s market capitalization is $3.39 billion. Terex Corporation has a 12 month low of $18.91 and a 12 month high of $37.53. The company’s 50 day moving average price is $33.94 and its 200-day moving average price is $32.32.
Terex Corporation (NYSE:TEX) last issued its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.08. Terex Corporation had a positive return on equity of 5.90% and a negative net margin of 2.53%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $926.31 million. On average, equities analysts predict that Terex Corporation will post $0.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 19th. Stockholders of record on Friday, June 9th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, June 7th. Terex Corporation’s payout ratio is -29.63%.
In other news, insider Steve Filipov sold 7,395 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $33.08, for a total value of $244,626.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin Bradley sold 5,000 shares of the firm’s stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $32.00, for a total transaction of $160,000.00. Following the completion of the sale, the senior vice president now owns 109,612 shares of the company’s stock, valued at $3,507,584. The disclosure for this sale can be found here. In the last 90 days, insiders bought 1,133 shares of company stock valued at $37,379 and sold 84,907 shares valued at $2,859,478. 2.50% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Terex Corporation by 11,851.5% in the first quarter. BlackRock Inc. now owns 8,449,356 shares of the industrial products company’s stock valued at $265,310,000 after buying an additional 8,378,659 shares during the period. Alliancebernstein L.P. increased its stake in shares of Terex Corporation by 160.8% in the first quarter. Alliancebernstein L.P. now owns 3,095,591 shares of the industrial products company’s stock valued at $97,202,000 after buying an additional 1,908,447 shares during the period. Norges Bank bought a new stake in shares of Terex Corporation during the fourth quarter valued at about $34,781,000. Dimensional Fund Advisors LP increased its stake in shares of Terex Corporation by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,444,169 shares of the industrial products company’s stock valued at $202,346,000 after buying an additional 943,237 shares during the period. Finally, Columbus Circle Investors bought a new stake in shares of Terex Corporation during the first quarter valued at about $27,629,000. Hedge funds and other institutional investors own 97.78% 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.
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