Terex Corporation (NYSE:TEX – Get Free Report) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $57.04 and traded as high as $59.44. Terex shares last traded at $57.5710, with a volume of 1,768,518 shares trading hands.
Wall Street Analyst Weigh In
A number of research firms have weighed in on TEX. Truist Financial restated a “buy” rating and issued a $87.00 target price (up from $85.00) on shares of Terex in a research report on Thursday, October 29th. Barclays increased their price target on Terex from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, July 20th. Wells Fargo & Company lowered their price target on Terex from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, October 26th. JPMorgan Chase & Co. dropped their price objective on Terex from $68.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Finally, Citigroup dropped their price objective on Terex from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.73.
Terex Stock Up 2.5%
The company has a debt-to-equity ratio of 0.52, a current ratio of 1.76 and a quick ratio of 0.93. The business has a fifty day moving average price of $57.04 and a two-hundred day moving average price of $61.86. The firm has a market cap of $6.58 billion, a PE ratio of 29.08, a P/E/G ratio of 0.98 and a beta of 1.47.
Terex (NYSE:TEX – Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.08. Terex had a net margin of 2.64% and a return on equity of 11.79%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm earned $1.50 earnings per share. The firm’s revenue was up 58.4% compared to the same quarter last year. On average, analysts anticipate that Terex Corporation will post 4.93 EPS for the current fiscal year.
Terex Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Monday, November 9th will be paid 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 dividend yield of 1.2%. Terex’s dividend payout ratio (DPR) is 34.34%.
Hedge Funds Weigh In On Terex
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEX. Van ECK Associates Corp acquired a new stake in Terex in the second quarter valued at approximately $2,588,000. Principal Financial Group Inc. grew its position in Terex by 183.0% in the first quarter. Principal Financial Group Inc. now owns 402,045 shares of the industrial products company’s stock worth $23,761,000 after acquiring an additional 259,993 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new position in shares of Terex during the 1st quarter worth $38,992,000. Hanseatic Management Services Inc. acquired a new position in shares of Terex during the 1st quarter worth $1,080,000. Finally, Bank of America Corp DE increased its stake in shares of Terex by 33.9% during 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 purchasing an additional 118,120 shares during the last quarter. Institutional investors own 92.88% of the company’s stock.
About Terex
Terex Corporation (NYSE:TEX) is a global manufacturer of equipment used in construction, infrastructure development, utilities, recycling and material processing. The company designs and produces machinery intended to help customers build, maintain and improve transportation networks, commercial sites, utility systems and industrial facilities.
Terex operates primarily through its Aerial Work Platforms and Materials Processing businesses. Its products include aerial lifts, telehandlers and other access equipment, as well as crushing, screening, conveying, washing, recycling and environmental-processing machinery.
Featured Articles
- Five stocks we like better than Terex
- AbbVie’s Humira Era Is Fading, But Its New Growth Engines Face Another Test
- GLP-1 Focus or Broader Peptide Exposure: Which ETF Has the Edge?
- Mortgage Rates Froze U.S. Housing, But These 3 Overseas Markets Still Pay Double Digits
- Big Tech Is Spending Billions on AI—These 5 Stocks Are Getting Paid
Receive News & Ratings for Terex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex and related companies with MarketBeat.com's FREE daily email newsletter.
