On September 30, 2023, several equities research analysts provided their insights on Terex Corporation (symbol: TEX). This article aims to summarize the recent notes and ratings from these analysts in a formal tone.
Starting with Wells Fargo & Company, they increased their target price for Terex shares from $66.00 to $74.00 in a research note issued on August 3rd. The Goldman Sachs Group also adjusted their price objective for Terex from $53.00 to $60.00 and maintained their “neutral” rating on the company’s stock. Raymond James initiated coverage on Terex on July 6th and assigned it a “market perform” rating. Another research note by StockNews.com recommended a “buy” rating for the company.
Furthermore, Robert W. Baird raised their target price for Terex from $57.00 to $65.00 and rated the stock as “neutral,” according to their research report dated August 2nd. Overall, out of the thirteen analysts that have reviewed Terex’s stock, four have given it a buy rating while nine have labeled it as hold. Based on data from Bloomberg.com, the average rating for Terex is currently “Hold,” with an average target price of $61.42.
In addition to these analyst reviews, Terex Corporation recently announced an increase in its quarterly dividend payout; shareholders of record on August 14th were paid a dividend of $0.17 per share on September 19th. This represents an increase from the previous quarterly dividend of $0.15 per share and brings the annualized dividend yield to 1.17%. The ex-dividend date for this payout was August 11th.
Looking at Terex’s financial performance, as of Friday’s opening (September 29th), its stock was trading at $58.06 per share—a slight decline compared to its fifty-day moving average of $59.25 and its two-hundred-day moving average of $53.93. Over the past year, Terex stock has fluctuated between a low of $29.08 and a high of $65.64.
Terex Corporation currently holds a debt-to-equity ratio of 0.51 and demonstrates a current ratio of 2.07, indicating strong liquidity. The company’s market capitalization stands at approximately $3.91 billion, with a price-to-earnings ratio (PE) of 8.90 and a price-to-earnings-growth ratio (PEG) of 0.45—a favorable valuation metric considering its growth prospects. Additionally, Terex boasts a beta value of 1.68, reflecting its historically higher volatility compared to the market.
In conclusion, Terex Corporation received mixed ratings from equity research analysts who recently weighed in on the stock; however, the average rating suggests that it is more inclined towards “Hold.” With various target price adjustments and dividend updates, investors should closely monitor Terex’s financial performance before making any investment decisions in this equipment manufacturer.
Please note that all information provided in this article is based on publicly available data as of September 30, 2023, and is subject to change over time as new developments arise or market conditions shift.
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Terex Co. (NYSE:TEX) Experiences Rise in Q1 2024 Earnings per Share Estimates and Positive Outlook
Terex Co. (NYSE:TEX), the industrial products company, has seen a rise in its Q1 2024 earnings per share estimates, according to stock analysts at KeyCorp. In a research note issued on September 27th, KeyCorp analyst S. Barger stated that Terex is now expected to post earnings per share of $1.79 for the quarter, up from their previous estimate of $1.78. This news comes as KeyCorp maintains an “Overweight” rating and a target price of $80.00 on Terex’s stock.
The consensus estimate for Terex’s current full-year earnings is $7.09 per share, indicating positive expectations for the company’s financial performance moving forward. Additionally, KeyCorp has also provided estimates for Terex’s Q4 2024 earnings at $1.70 EPS.
Investors in Terex recently benefitted from the announcement of a quarterly dividend, which was paid on September 19th. Shareholders of record on August 14th received a dividend of $0.17 per share, marking an increase from Terex’s previous quarterly dividend of $0.15. The annualized dividend stands at $0.68 with a dividend yield of 1.17%. The ex-dividend date for this payout was August 11th. Terex’s dividend payout ratio (DPR) is currently reported at 10.43%.
Looking back to its last quarterly earnings results released on August 1st, Terex exceeded analysts’ consensus estimates with reported EPS of $2.35 for the quarter, surpassing the projected figure by $0.69 per share ($1.66). During the same period last year, Terex registered quarterly revenue of $1.40 billion compared to analysts’ predictions of $1.27 billion.
Several major investors have made recent changes to their positions in Terex as well:
– Ameritas Advisory Services LLC acquired a new position in Terex during the first quarter with an estimated value of $26,000.
– Tucker Asset Management LLC purchased a new position in Terex in the first quarter valued at around $27,000.
– Dark Forest Capital Management LP bought shares of Terex in the first quarter worth $28,000.
– ST Germain D J Co. Inc. also acquired a new position in the company during the second quarter with an estimated value of approximately $30,000.
– In addition, Parkside Financial Bank & Trust experienced substantial growth in its holdings of Terex by 87.5% during the first quarter, now owning 930 shares valued at $45,000 after acquiring an additional 434 shares.
These institutional investors and hedge funds own 93.39% of Terex’s stock.
Overall, Terex’s increasing Q1 2024 earnings per share estimates and positive full-year earnings consensus reflect promising prospects for this industrial products company. With solid financial performance and support from key investors, Terex remains poised for potential growth in the future.
