Terex Co. (NYSE:TEX) Receives Average Rating of “Hold” from Brokerages

Shares of Terex Co. (NYSE:TEX) have received a consensus recommendation of “Hold” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $59.56.

Several research firms recently issued reports on TEX. Robert W. Baird cut their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Citigroup reduced their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. The Goldman Sachs Group dropped their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Truist Financial boosted their price target on shares of Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Evercore ISI cut their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th.

Terex Price Performance

Shares of NYSE:TEX opened at $51.98 on Tuesday. The company has a market capitalization of $3.47 billion, a P/E ratio of 7.59, a P/E/G ratio of 4.17 and a beta of 1.53. Terex has a 1-year low of $48.11 and a 1-year high of $68.08. The firm’s 50 day simple moving average is $53.23 and its two-hundred day simple moving average is $55.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16.

Terex (NYSE:TEX) last released its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company earned $1.75 EPS. Terex’s revenue for the quarter was down 6.0% on a year-over-year basis. Research analysts expect that Terex will post 6.07 EPS for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a $0.17 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 1.31%. Terex’s dividend payout ratio is currently 9.93%.

Institutional Investors Weigh In On Terex

Several institutional investors have recently modified their holdings of TEX. Greenwich Wealth Management LLC raised its holdings in Terex by 0.3% during the 3rd quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company’s stock valued at $3,300,000 after buying an additional 181 shares during the period. Dorsey Wright & Associates increased its position in Terex by 0.3% during the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company’s stock valued at $3,362,000 after acquiring an additional 186 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Terex by 57.5% in the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 187 shares during the period. FCG Investment Co lifted its holdings in shares of Terex by 3.5% in the 2nd quarter. FCG Investment Co now owns 6,534 shares of the industrial products company’s stock worth $358,000 after acquiring an additional 220 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Terex by 4.0% during the 3rd quarter. US Bancorp DE now owns 5,837 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 227 shares during the period. 92.88% of the stock is owned by institutional investors.

About Terex

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.