Boston, MA 06/18/2013 (wallstreetpr) – The share prices of Terex Corporation (NYSE:TEX) had declined by 7.72 percent to close at $29.29 per share for the end of last trading session on Monday. The shares of the company had been trading in the range of $26.71 to $29.34 per share during the day. The shares of Terex Corporation (NYSE:TEX) had recorded 52 week low price level at $14.05 per share and 52 week high price level at $37.12 per share.
This decline in the share prices of Terex Corporation (NYSE:TEX) is primarily attributed to its revision of the financial performance guidance for the full fiscal year to a negative side. The company had lowered its expectations of the full fiscal year earnings per share to $1.90 to $2.10 per share, from the previous guidance of $2.40 to $2.70 earnings per share. Further, the second quarter guidance for earnings per share had been fixed at $0.50 to $0.60 per share, excluding certain nonrecurring items.
This decline in the full fiscal year guidance had been attributed to the softening of sales of the products compared to the increases that were anticipated at the beginning of 2013. Terex Corporation (NYSE:TEX) is primarily engaged in the global equipment manufacturing of machinery products. The company focuses on delivering reliable, customer driven solutions for a wide range of commercial applications including construction, infrastructure, quarrying, mining, manufacturing, shipping, transportation, refining, energy and utility industries.
The shares of Terex Corporation (NYSE:TEX) had witnessed the trade of 14.50 million shares on Monday, while the average trading volume for the company is at 2.31 million shares per day. The company presently holds 111.20 million shares outstanding in the market with an institutional ownership of 94 percent of its holdings.
