Terex Co. (NYSE:TEX) to Issue Quarterly Dividend of $0.17

Terex Co. (NYSE:TEX) declared a quarterly dividend on Monday, October 14th, RTT News reports. Shareholders 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 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. Research 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 Stock Performance

TEX opened at $58.63 on Thursday. The firm has a fifty day moving average price of $53.20 and a 200 day moving average price of $55.92. Terex has a 1 year low of $46.94 and a 1 year high of $68.08. The stock has a market cap 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 company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16.

Terex (NYSE:TEX) last issued its quarterly earnings data 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. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. The company’s revenue was down 6.0% compared to the same quarter last year. Equities research analysts anticipate that Terex will post 5.99 earnings per share for the current year.

Analysts Set New Price Targets

TEX has been the subject of a number of recent analyst reports. Citigroup cut their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Robert W. Baird reduced their price objective 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. The Goldman Sachs Group decreased their price objective 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. Truist Financial upped their price target on shares of Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group lowered their price objective on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Terex presently has an average rating of “Hold” and an average target price of $59.56.

About Terex

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.