The Westport, Connecticut-based Terex Corporation (NYSE:TEX) declared a profit for fiscal Q1 on Wednesday that hiked from previous year, supported by higher margins.
But, adjusted EPS from continuing operations mainly failed to meet Wall Street forecasts. The corporation also maintained its EPS and revenues outlook for FY 2013.
Construction equipment maker announced net income was $23.9 million or $0.21 a share for fiscal Q1, over $23.0 million or $0.20 a share in the similar period a year ago.
Quarterly income from continuing operations were $20.9 million or $0.18 a share, evaluated against $20.5 million or $0.18 a share in previous year.
Thomson Reuters 17 analysts’ survey on average forecasted to announce earnings of $0.28 a share for fiscal Q1.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Manitex International, Inc. (NASDAQ:MNTX) up +3.26% to settle at $10.76, Columbus McKinnon Corp. (NASDAQ:CMCO) moved up +0.05% to end at $18.48 while Hyster-Yale Materials Handling Inc (NYSE:HY) jumped +2.76% to finish at $54.30 on Wednesday.
Terex Corporation (NYSE:TEX) on April 12, 2013 increased +2.78% to the closing price of $29.53. The overall volume in the last trading session was 2.15 million shares. Its fifty two weeks range was $14.05 – $36.78. The total market capitalization remained at $3.27 billion.
TEX is ahead of its 52-week low with +110.18% and lagging behind from its 52-week high price with -19.71%. TEX’s last month’s stock price volatility remained 4.31%. In its share capital TEX has 111.02 million outstanding shares, among them 107.53 million shares have been floated in market exchange. TEX’s stock’s institutional ownership remained 89.51% while insider ownership included 3.75%.
The stock price of TEX is moving down from its 20 days moving average with -4.19% and remote negatively from 50 days moving average with -9.58%. TEX’s current year’s earnings per share experienced an addition with +160.85% while its current quarter performance remained at +2.64%. Company’s beta coefficient included 3.11. Beta factors measure the amount of market risk associated with market trade.
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