Terex Corporation (TEX) is Downgraded by Morgan Stanley to Equal-Weight, Lowers Price Target to $ 21

Terex Corporation (TEX) was Downgraded by Morgan Stanley to ” Equal-Weight” while Lowering the Price Target of the company shares to $ 21 from a previous price target of $26 . Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on May 31, 2016.

Many Wall Street Analysts have commented on Terex Corporation. Company shares were Upgraded by Robert W. Baird on May 17, 2016 to ” Outperform”, Firm has raised the Price Target to $ 30 from a previous price target of $24 .Terex Corporation was Upgraded by Wells Fargo to ” Outperform” on May 17, 2016. Company shares were Reiterated by RBC Capital Mkts on May 17, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 26 from a previous price target of $22 .

On the company’s financial health, Terex Corporation reported $-0.05 EPS for the quarter, based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus estimate of $-0.05. The company had revenue of $1426.90 million for the quarter, compared to analysts expectations of $1320.93 million. The company’s revenue was down -4.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.02 EPS.

Terex Corporation closed down -3.44 points or -14.14% at $20.89 with 1,99,32,630 shares getting traded on Friday. Post opening the session at $19.9, the shares hit an intraday low of $19.32 and an intraday high of $20.91 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Investors should note that on May 13, 2016, Terex Corporation announced a cash dividend of $0.0700. The company’s management has announced Jun 8, 2016 as the ex-dividend date and fixed the record date on Jun 10, 2016. The payable date has been fixed on Jun 20, 2016.

In a different news, on May 6, 2016, George Ellis (President, Construction) purchased 30 shares at $23.35 per share price. According to the SEC, on May 6, 2016, Kevin A Barr (Senior V. P. Human Resources) purchased 15 shares at $23.35 per share price. On May 6, 2016, Kenneth D. Lousberg (President, Terex Cranes) purchased 111 shares at $23.35 per share price, according to the Form-4 filing with the securities and exchange commission.

Terex Corporation is a lifting and material handling solutions company. The Company is focused providing its operations and delivering solutions for a range of commercial applications including the construction infrastructure quarrying mining manufacturing transportation energy and utility industries. The Company operates in business segments: Aerial Work Platforms Construction Cranes Material Handling & Port Solutions and Materials Processing. Its products are manufactured in North and South America Europe Australia and Asia and sold across the world. It offers a range of products including portable material lifts telehandlers wheel loaders midi excavators site dumpers tower cranes utility equipment industrial cranes reach stackers washing systems chippers and sprinter carriers among others. Its brands include Terex Genie Demag and Powerscreen.

Terex Corporation

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