Terex Co. (TEX) To Go Ex-Dividend on November 8th

Terex Co. (NYSE:TEX) announced a quarterly dividend on Monday, October 14th, RTT News reports. Stockholders of record on Friday, November 8th will be paid a dividend of 0.17 per share by the industrial products company on Thursday, December 19th. This represents a $0.68 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, November 8th.

Terex has raised its dividend by an average of 74.7% annually over the last three years. Terex has a payout ratio of 11.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Terex to earn $5.64 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 12.1%.

Terex Trading Up 0.6 %

Shares of TEX opened at $55.73 on Wednesday. Terex has a twelve month low of $43.70 and a twelve month high of $68.08. The company has a market cap of $3.75 billion, a P/E ratio of 7.38, a P/E/G ratio of 4.43 and a beta of 1.53. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $53.32 and its 200-day simple moving average is $56.92.

Terex (NYSE:TEX) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.10. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.35 earnings per share. As a group, analysts expect that Terex will post 5.88 EPS for the current year.

Insiders Place Their Bets

In other Terex news, Director Andra Rush acquired 2,205 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the purchase, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TEX. The Goldman Sachs Group dropped their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Citigroup reduced their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Truist Financial reduced their price target on shares of Terex from $63.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Raymond James began coverage on shares of Terex in a report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Evercore ISI cut their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.30.

Terex Company Profile

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.