Terex Co. (NYSE:TEX) – Stock analysts at KeyCorp lowered their Q1 2019 EPS estimates for shares of Terex in a report issued on Sunday, April 14th, Zacks Investment Research reports. KeyCorp analyst S. Barger now forecasts that the industrial products company will earn $0.62 per share for the quarter, down from their previous estimate of $0.69. KeyCorp also issued estimates for Terex’s FY2019 earnings at $3.92 EPS and FY2020 earnings at $4.26 EPS.
A number of other brokerages have also recently weighed in on TEX. Credit Suisse Group upped their price target on shares of Terex from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 26th. Wells Fargo & Co boosted their price objective on shares of Terex from $32.00 to $37.00 and gave the stock a “market perform” rating in a report on Tuesday, February 26th. Morgan Stanley reiterated a “hold” rating on shares of Terex in a report on Tuesday, February 26th. UBS Group lowered shares of Terex from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $50.00 to $37.00 in a report on Tuesday, April 23rd. Finally, Bank of America set a $33.00 target price on shares of Terex and gave the company a “sell” rating in a research note on Thursday, February 28th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $36.33.
Terex (NYSE:TEX) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.30. Terex had a negative net margin of 0.06% and a positive return on equity of 25.38%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company earned $0.55 EPS. The firm’s revenue was up 1.8% on a year-over-year basis.
In other Terex news, Director International Master F. Marcato sold 1,100,000 shares of the stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $31.54, for a total value of $34,694,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steve Filipov sold 10,048 shares of the stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $35.64, for a total transaction of $358,110.72. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 1,619 shares of company stock valued at $53,232. 4.00% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. lifted its position in Terex by 0.3% in the 4th quarter. American International Group Inc. now owns 132,253 shares of the industrial products company’s stock worth $3,646,000 after buying an additional 357 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Terex by 4.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 9,500 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 425 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Terex by 1.4% during the 4th quarter. Natixis Advisors L.P. now owns 32,407 shares of the industrial products company’s stock worth $893,000 after purchasing an additional 442 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Terex by 0.4% during the 4th quarter. Nordea Investment Management AB now owns 126,963 shares of the industrial products company’s stock worth $3,500,000 after purchasing an additional 472 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Terex by 1.1% during the 4th quarter. Arizona State Retirement System now owns 46,550 shares of the industrial products company’s stock worth $1,283,000 after purchasing an additional 499 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.
Terex Company Profile
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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