Terex's 3Q Shows Restructuring Progress
We are adjusting our fair value estimate for no-moat Terex to $44 per share from $45 to reflect our revised year-end share-repurchase estimates. Third-quarter earnings per share rose $0.31 from the prior-year quarter to $0.50, surprising consensus by $0.13 cents, or 35%. Terex’s business continues to recover, reporting a 44% increase in backlog over the year-ago period. Management raised 2017 EPS guidance from a midpoint of $1.10 to $1.25 due to a combination of reduced share count and robust op...Terex is a global manufacturer of aerial work platforms, materials processing machinery and cranes. The company has two segments: Aerial Work Platforms, which designs, manufactures, services and markets aerial work platform equipment, utility equipment, telehandlers and light towers, including portable material lifts, self-propelled articulating and telescopic booms, scissor lifts, and trailer-mounted light towers as well as, their related components and replacement parts; and Material Processing, which designs, manufactures and markets materials processing and other equipment, including crushers, washing systems, apron feeders, conveyors, and their related components and replacement parts.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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