On Oct 4, 2016, Terex Corporation (TEX - Free Report) was downgraded to a Zacks Rank #5 (Strong Sell). Going by the Zacks model, companies holding a Zacks Rank #5 are likely to underperform the broader market.
Why the Downgrade?
On Aug 1, 2016, Terex Corporation posted dismal results for the second quarter of 2016 wherein its top and bottom line numbers compared unfavourably with the year-ago quarter figures.
The company reported adjusted earnings per share of 64 cents and revenues of $1.3 billion. On a year-over-year basis too, the metrics registered steep declines of 18% and 10%, respectively.
Terex now expects earnings per share from continuing operations to be between 85 cents and $1.15 in 2016, excluding restructuring and other unusual items. The Zacks Consensus Estimate stands at 96 cents. Additionally, the company provided guidance of net sales of $4.3 billion–$4.5 billion for full-year 2016. The Zacks Consensus Estimate is pegged at $4.44 billion. This reflects the removal of MHPS earnings from continuing operations and the effect of unabsorbed corporate management costs, but does not display any of the benefits of the MHPS sale which will be realized upon completion of the sale.
TEREX CORP Price and Consensus
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
On Oct 4, 2016, Terex Corporation (TEX - Free Report) was downgraded to a Zacks Rank #5 (Strong Sell). Going by the Zacks model, companies holding a Zacks Rank #5 are likely to underperform the broader market.
Why the Downgrade?
On Aug 1, 2016, Terex Corporation posted dismal results for the second quarter of 2016 wherein its top and bottom line numbers compared unfavourably with the year-ago quarter figures.
The company reported adjusted earnings per share of 64 cents and revenues of $1.3 billion. On a year-over-year basis too, the metrics registered steep declines of 18% and 10%, respectively.
Terex now expects earnings per share from continuing operations to be between 85 cents and $1.15 in 2016, excluding restructuring and other unusual items. The Zacks Consensus Estimate stands at 96 cents. Additionally, the company provided guidance of net sales of $4.3 billion–$4.5 billion for full-year 2016. The Zacks Consensus Estimate is pegged at $4.44 billion. This reflects the removal of MHPS earnings from continuing operations and the effect of unabsorbed corporate management costs, but does not display any of the benefits of the MHPS sale which will be realized upon completion of the sale.
TEREX CORP Price and Consensus
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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