Terex Co. (TEX) Expected to Announce Quarterly Sales of $1.20 Billion

Brokerages forecast that Terex Co. (NYSE:TEX) will post $1.20 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Terex’s earnings, with the lowest sales estimate coming in at $1.16 billion and the highest estimate coming in at $1.26 billion. Terex posted sales of $1.06 billion in the same quarter last year, which suggests a positive year over year growth rate of 13.2%. The business is scheduled to issue its next earnings report on Tuesday, February 12th.

On average, analysts expect that Terex will report full-year sales of $5.09 billion for the current year, with estimates ranging from $5.05 billion to $5.15 billion. For the next year, analysts forecast that the business will report sales of $5.32 billion, with estimates ranging from $5.21 billion to $5.54 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Terex.

Terex (NYSE:TEX) last posted its earnings results on Thursday, November 1st. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.07). Terex had a return on equity of 18.86% and a net margin of 2.42%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Terex’s quarterly revenue was up 10.6% on a year-over-year basis.

Several equities research analysts have weighed in on the company. Bank of America reduced their price objective on Terex from $40.00 to $28.00 and set an “underperform” rating on the stock in a research note on Friday, November 2nd. Morgan Stanley reduced their price objective on Terex from $46.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday, November 5th. ValuEngine cut Terex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised Terex from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, UBS Group set a $52.00 price objective on Terex and gave the stock a “buy” rating in a research note on Wednesday, August 22nd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Terex presently has an average rating of “Hold” and an average price target of $40.83.

In other news, insider Kevin A. Barr sold 11,937 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $38.43, for a total transaction of $458,738.91. Following the transaction, the insider now owns 101,980 shares of the company’s stock, valued at $3,919,091.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Eric I. Cohen sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $39.01, for a total value of $390,100.00. Following the transaction, the vice president now directly owns 182,905 shares in the company, valued at approximately $7,135,124.05. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 1,445 shares of company stock worth $52,655. Insiders own 3.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC bought a new position in shares of Terex during the third quarter valued at approximately $144,000. Nordea Investment Management AB bought a new position in shares of Terex during the third quarter valued at approximately $5,049,000. TIAA CREF Investment Management LLC grew its stake in shares of Terex by 116.3% during the third quarter. TIAA CREF Investment Management LLC now owns 6,096,257 shares of the industrial products company’s stock valued at $243,302,000 after buying an additional 3,277,715 shares during the last quarter. Neuberger Berman Group LLC bought a new position in shares of Terex during the third quarter valued at approximately $212,000. Finally, Glenmede Trust Co. NA grew its stake in shares of Terex by 5,975.3% during the third quarter. Glenmede Trust Co. NA now owns 11,300 shares of the industrial products company’s stock valued at $450,000 after buying an additional 11,114 shares during the last quarter.

NYSE TEX traded down $2.33 during trading hours on Wednesday, hitting $29.90. 2,140,298 shares of the company were exchanged, compared to its average volume of 1,339,725. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.22 and a quick ratio of 1.14. Terex has a 52 week low of $28.64 and a 52 week high of $50.17. The stock has a market capitalization of $2.44 billion, a P/E ratio of 22.15, a PEG ratio of 0.34 and a beta of 1.61.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 9th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.34%. Terex’s dividend payout ratio is 29.63%.

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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