Terex Corporation (NYSE:TEX – Get Free Report) has been assigned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $77.10.
TEX has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Terex in a research report on Thursday, October 15th. Barclays upped their price objective on Terex from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. decreased their price objective on Terex from $68.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Truist Financial restated a “buy” rating and set a $87.00 target price (up from $85.00) on shares of Terex in a research note on Thursday, October 29th. Finally, Morgan Stanley decreased their price target on shares of Terex from $86.00 to $84.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th.
View Our Latest Research Report on TEX
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp acquired a new position in Terex in the 2nd quarter valued at about $2,588,000. Principal Financial Group Inc. lifted its holdings in shares of Terex by 183.0% during the first quarter. Principal Financial Group Inc. now owns 402,045 shares of the industrial products company’s stock worth $23,761,000 after purchasing an additional 259,993 shares during the period. Cooper Creek Partners Management LLC purchased a new position in Terex in the 1st quarter valued at $38,992,000. Hanseatic Management Services Inc. purchased a new position in Terex during the 1st quarter worth $1,080,000. Finally, Bank of America Corp DE lifted its stake in shares of Terex by 33.9% in the 1st quarter. Bank of America Corp DE now owns 467,017 shares of the industrial products company’s stock worth $27,601,000 after acquiring an additional 118,120 shares during the period. 92.88% of the stock is owned by hedge funds and other institutional investors.
Terex Stock Up 5.7%
Shares of NYSE TEX opened at $58.09 on Friday. Terex has a 52-week low of $41.70 and a 52-week high of $74.69. The business’s 50 day moving average is $56.19 and its two-hundred day moving average is $61.76. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.06 and a beta of 1.48. The company has a quick ratio of 0.92, a current ratio of 1.76 and a debt-to-equity ratio of 0.52.
Terex (NYSE:TEX – Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.08. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Terex had a return on equity of 11.79% and a net margin of 2.64%. The company’s revenue was up 58.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.50 earnings per share. Research analysts predict that Terex will post 4.92 EPS for the current year.
Terex Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Monday, November 9th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.68 dividend on an annualized basis and a yield of 1.2%. Terex’s dividend payout ratio (DPR) is presently 34.34%.
About Terex
Terex Corporation designs, manufactures and supports equipment used in construction, infrastructure, utilities, materials processing and environmental services. Its products include aerial work platforms and machinery for crushing, screening, washing and conveying materials, along with equipment for waste handling and other specialized applications.
The company sells equipment and aftermarket services worldwide through a portfolio of brands that includes Genie, Powerscreen, Finlay and Terex.
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