Brokerages Expect Terex Co. (NYSE:TEX) Will Post Quarterly Sales of $973.68 Million

Equities research analysts expect Terex Co. (NYSE:TEX – Get Rating) to announce sales of $973.68 million for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Terex’s earnings. The lowest sales estimate is $897.70 million and the highest is $1.02 billion. Terex posted sales of $864.20 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.7%. The business is scheduled to report its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Terex will report full year sales of $4.27 billion for the current financial year, with estimates ranging from $4.20 billion to $4.35 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.68 billion, with estimates ranging from $4.53 billion to $4.88 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Terex.

Terex (NYSE:TEX – Get Rating) last posted its quarterly earnings results on Thursday, February 10th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.28. The company had revenue of $990.10 million for the quarter, compared to analyst estimates of $952.90 million. Terex had a net margin of 5.68% and a return on equity of 21.01%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS.

A number of equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Terex in a report on Thursday, March 31st. They set a “hold” rating for the company. Robert W. Baird downgraded shares of Terex from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Friday. Wells Fargo & Company assumed coverage on shares of Terex in a report on Friday, March 11th. They set an “overweight” rating and a $64.00 price objective for the company. Barclays reduced their price objective on shares of Terex from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, December 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Terex from $62.00 to $64.00 in a report on Monday, February 14th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $56.17.

Shares of NYSE:TEX traded up $0.12 during midday trading on Tuesday, reaching $33.30. 991,526 shares of the company’s stock were exchanged, compared to its average volume of 677,587. The company’s 50 day simple moving average is $38.93 and its two-hundred day simple moving average is $42.67. The firm has a market capitalization of $2.33 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 0.47 and a beta of 1.59. Terex has a 12 month low of $32.11 and a 12 month high of $55.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.05 and a current ratio of 1.94.

The business also recently announced a quarterly dividend, which was paid on Monday, March 21st. Shareholders of record on Wednesday, March 9th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, March 8th. This is an increase from Terex’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. Terex’s payout ratio is currently 16.67%.

In other Terex news, VP Scott Posner sold 3,853 shares of the business’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $36.14, for a total value of $139,247.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.50% of the company’s stock.

Several large investors have recently modified their holdings of TEX. First Trust Advisors LP grew its holdings in Terex by 222.7% during the first quarter. First Trust Advisors LP now owns 67,715 shares of the industrial products company’s stock valued at $2,176,000 after purchasing an additional 46,730 shares during the period. Morgan Stanley grew its holdings in Terex by 56.1% during the second quarter. Morgan Stanley now owns 525,891 shares of the industrial products company’s stock valued at $25,042,000 after purchasing an additional 188,984 shares during the period. Koshinski Asset Management Inc. acquired a new position in Terex during the third quarter valued at approximately $25,000. Virginia Retirement Systems ET AL acquired a new position in Terex during the third quarter valued at approximately $282,000. Finally, New York State Teachers Retirement System grew its holdings in Terex by 4.0% during the third quarter. New York State Teachers Retirement System now owns 97,420 shares of the industrial products company’s stock valued at $4,101,000 after purchasing an additional 3,750 shares during the period. Institutional investors own 85.80% of the company’s stock.

Terex Company Profile (Get Rating)

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.

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