Terex Co. (TEX) to Issue Quarterly Dividend of $0.17 on December 19th

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 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date 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 Price Performance

Shares of NYSE TEX opened at $52.32 on Wednesday. The business has a 50 day moving average price of $53.19 and a two-hundred day moving average price of $55.96. Terex has a fifty-two week low of $46.94 and a fifty-two week high of $68.08. The firm has a market cap of $3.49 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 4.19 and a beta of 1.53. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group cut their target price on shares of Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Evercore ISI reduced their target price on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Robert W. Baird decreased their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group dropped their price target on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Finally, Truist Financial lifted their price objective on shares of Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Terex has a consensus rating of “Hold” and an average 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.