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China National Building Material (CNBM), which will merge with rival China National Materials (Sinoma) to form the world’s largest cement maker and cement plant builder, aims for the combined entity to manage 100 plants in countries covered by Beijing’s Belt and Road Initiative in three to five years.
Ball Corporation (BLL - Free Report) reported third-quarter 2017 adjusted earnings of 52 cents per share, missing the Zacks Consensus Estimate of 59 cents. Earnings, however, were up 8.3% year over year. On a reported basis, the company posted earnings of 13 cents per share compared to 9 cents per share recorded in the prior-year quarter. Total revenues increased 5.7% year over year to $2.908 billion in the reported quarter. (72-0)
Terex Corporation’s (TEX - Free Report) third-quarter 2017 adjusted earnings surged a whopping 194% year over year to 50 cents per share. Earnings also beat the Zacks Consensus Estimate of 36 cents per share by a wide margin of 39%. All the three segments increased sales, improved operating margin and grew backlog which led to the overall improved performance in the quarter. Including one-time items, Terex posted earnings of 63 cents per share in the quarter compared to 31 cents reported in the year-ago quarter. (58-0)
AGCO Corporation (AGCO - Free Report) reported adjusted earnings of 79 cents per share in third-quarter 2017, up 55% from 51 cents per share recorded in third-quarter 2016. In addition, earnings beat the Zacks Consensus Estimate of 72 cents. Including restructuring and other infrequent expenses, the company reported earnings of 76 cents per share in the quarter compared to 50 cents per share reported in the prior-year quarter. (77-0)
TriMas Corporation (TRS - Free Report) posted adjusted earnings of 39 cents per share in third-quarter 2017, up 11.4% from 35 cents reported in the prior-year period. Earnings came in line with the Zacks Consensus Estimate. On a reported basis, including special items, TriMas’ earnings surged 52.6% year over year to 29 cents per share. TriMas generated revenues of $209.3 million for the quarter, outpacing the Zacks Consensus Estimate of $208. (58-0)
Astec Industries, Inc. (ASTE - Free Report) posted a net loss of 12 cents per share in third-quarter 2017, against an earnings of 30 cents in the prior-year quarter. However, the reported loss came in line with the Zacks Consensus Estimate. As previously announced, the quarter bore the impact of additional investment to make significant design upgrades to its customers’ Georgia and Arkansas wood pellet plants. (57-0)
Lindsay Corporation (LNN - Free Report) reported fourth-quarter fiscal 2017 (ended Aug 31, 2017) earnings of 59 cents per share compared with 73 cents per share recorded in the prior-year quarter. The reported quarter’s earnings were hurt by a higher effective income tax. Also, earnings missed the Zacks Consensus Estimate of 65 cents. The irrigation equipment manufacturer reported revenues of $132 million, missing the Zacks Consensus Estimate of $135 million. (77-0)
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. (52-0)
Terex Corporation (TEX - Free Report) has been witnessing upward estimate revisions over the last 60 days. The Zacks Consensus Estimate for earnings moved up 19.8% to $1.15 for 2017 and 16.9% to $1.94 for 2018. A bullish trend in estimate revisions reflects optimism over the company’s bright prospects. Terex currently carries a Zacks Rank #3 (Hold) with an impressive VGM Score of B. Here V stands for Value, G for Growth and M for Momentum. (4-0)
Shares of Manitowoc Company, Inc. (MTW - Free Report) scaled a new 52-week high of $9.20 on Oct 3, before ending the day a tad lower at $9.18. Investors are optimistic on this Zacks Rank #2 (Buy) company’s focus on consolidating manufacturing footprint and reducing cost of organizational structure. The company has delivered an impressive one-year return of about 92%. Manitowoc has a market cap of $1. (14-1)
Astec Industries, Inc. (ASTE - Free Report) has commenced significant design upgrades at its Georgia and Arkansas wood pellet plants which need additional investment. Though the investment will hurt the company’s third-quarter earnings by 54-58 cents per share, it will drive growth over the long term. Astec has identified design issues at the Georgia and Arkansas wood pellet plants after full assessment over the last 45 days. (19-0)
In line with its strategy to drive growth through acquisitions, Astec Industries, Inc. (ASTE - Free Report) announced the acquisition of substantially all of the assets and liabilities of RexCon LLC for $26 million. Burlington, WI-based RexCon is one of the leading full-line concrete batch plant manufacturers in the United States. The company has a strong reputation for providing innovative technology and dependable quality products. (8-0)
Shares of Terex Corporation (TEX - Free Report) hit a 52-week high of $43.67 on Sep 15. However, the stock closed the day’s trading a trifle lower at $43.47. The company has gained 37.9% year to date, much higher than the S&P 500’s gain of 11.7% over the same frame. Terex has a market cap of $3.9 billion. Average volume of shares traded over the last three months is approximately 1.4 million. We note that the company has beaten the Zacks Consensus Estimate in three out of the trailing four quarters, the average positive earnings surprise being 122. (63-0)
While shareholders squabble over who should be in control and what should be done to resolve China Shanshui Cement Group’s liquidity and debt problems, the cement industry has seen a marked turnaround in fortunes.
Total revenue of the 17 cement makers listed in the A-share market grew 4.8pc in the second quarter, while net profit hit 4.81 billion yuan