Terex Co. (NYSE:TEX) Announces $0.17 Quarterly Dividend

Terex Co. (NYSE:TEX) declared a quarterly dividend on Monday, October 14th, RTT News reports. Stockholders of record on Friday, November 8th will be given 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 1.16%. 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 dividend payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Terex to earn $5.67 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 12.0%.

Terex Trading Up 12.0 %

Shares of TEX opened at $58.63 on Thursday. Terex has a 12-month low of $46.94 and a 12-month high of $68.08. The firm has a market capitalization of $3.92 billion, a P/E ratio of 8.56, a P/E/G ratio of 4.19 and a beta of 1.53. The firm has a 50-day moving average price of $53.20 and a 200 day moving average price of $55.92. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.15. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.75 EPS. Sell-side analysts forecast that Terex will post 5.99 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on TEX. JPMorgan Chase & Co. reduced their target price on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group decreased their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Robert W. Baird dropped their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Evercore ISI reduced their price target on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Finally, Citigroup lowered their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $59.56.

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.