Sep. 15, 2014, 9:15 AM
Sep. 15, 2014, 8:18 AM
- Terex (NYSE:TEX) -7.8% premarket after lowering FY 2014 earnings guidance, citing weakness in its cranes segment.
- TEX now sees FY 2014 adjusted EPS of $2.35-$2.50 vs. $2.56 analyst consensus estimate and down from the company's earlier outlook for $2.50-$2.80; also sees Q3 EPS of $0.55-$0.65 vs. $0.80 consensus.
- TEX says the order rate for cranes has dropped significantly in July and August despite a positive trend in book-to-bill ratios over H1; also, cranes customers in developing markets are struggling to secure financing for orders scheduled for delivery in H2.
Aug. 11, 2014, 10:28 AM
- Terex (TEX +3.4%) shares could rise up to 30% over the next year, according to a weekend report in Barron’s, which cited four major factors offering strong investment potential.
- A pickup in big construction jobs - office buildings, hospitals, schools, etc. - which tends to lag behind a home-building recovery by about two years, now seems afoot, which should be good news for TEX and other heavy-metal specialists.
- TEX is poised to benefit from efficiency moves; years of acquisitions have left it with, for example, more than 70 accounting departments worldwide, a number management says it can reduce to eight.
- TEX also has amassed a full suite of automated products for stacking and unloading cargo on giant ships - a good business to be in, because the Panama Canal is getting a major capacity increase over the next two years.
- Finally, TEX shares are cheap, trading at 13.8x this year's earnings forecast vs. Caterpillar (NYSE:CAT), which trades at 16.4x.
Jul. 23, 2014, 5:39 PM
Jul. 10, 2014, 11:04 AM
May 27, 2014, 10:09 AM
Apr. 30, 2014, 6:01 PM| Comment!
Mar. 24, 2014, 4:44 PM
- Manitowoc (MTW) has been among the top-performing U.S. machinery stocks this year, but today it was one of the worst, -5.2% after a Jefferies downgrade due to valuation.
- The firm says its channel checks and conversations with industry participants continue support its belief that cranes - lattice-boom cranes, tower cranes, mobile telescopic cranes, boom trucks - will be a 2015 story.
- MTW shares trade at an EV/sales multiple of 137% and an EV/EBITDA multiple of 11.1x on 2014 estimates, significant premiums to the closest competitor (Terex: 80% EV/sales, 8.0x EV/EBITDA).
- YTD: MTW +32.3%, CAT +6.6%, TEX +2.3%, JOY -2.9%, DE -3.1%.
Feb. 26, 2014, 4:54 PM
Feb. 20, 2014, 6:54 PM
- Caterpillar’s (CAT) shares have gained 6.7% YTD, more than double their 2013 gain, and Deutsche Bank's Vishal Shah thinks they can move another 25% higher, rating CAT a Buy with a $122 price target.
- Shah believes investors are overly focused on the decline in CAT's resource industries revenue, which will likely trough earlier than expected in 2014, and are neglecting the significant growth opportunities within the construction segment over the next 3-4 years as well as consistent execution within the power systems segment.
- The firm eyes a recovery in the overall U.S. machinery sector driven by accelerating global GDP growth; it rates Deere (DE), Cummins (CMI) and Terex (TEX) as Buys but rates Joy Global (JOY), Manitowoc (MTW) and Agco (AGCO) as Holds.
Feb. 19, 2014, 9:13 AM
Feb. 18, 2014, 5:48 PM| Comment!
Feb. 18, 2014, 12:10 AM
Feb. 17, 2014, 5:35 PM
Dec. 9, 2013, 7:11 AM
- Terex (TEX) has agreed to sell its truck business, which sells off-highway rigid and articulated haul trucks, to Volvo Construction Equipment for $160M.
- "Trucks no longer fit within our changing portfolio of lifting and material handling businesses," said Terex CEO Ron DeFeo. The deal reflects the company's strategy to "focus on those businesses that provide the greatest returns for our shareholders."
- Terex plans to use the proceeds from the deal to help finance a stock buyback program and dividend payouts. (PR)
Oct. 23, 2013, 5:06 PM
TEX vs. ETF Alternatives
Terex Corp is a lifting & material handling solutions company. It is engaged in delivering reliable, customer-driven solutions for commercial applications including construction, infrastructure, quarrying, mining & manufacturing, among others.
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