Shares of Westport-based Terex Corp., a maker of cranes, construction and mining equipment, sank Friday following news that its 2005 annual report would be delayed, although analysts remained mildly positive on the company’s future.
Terex said Thursday that fourth-quarter and full year 2005 filings would be delayed due to the late filing of its 2004 financial statements, which included a restatement of its 2000 to 2003 financials.
In the meantime, it provided guidance for 2005 that was below analyst forecasts and 2006 estimates that are in line Wall Street predictions.
Shares of Terex dropped $4.59, or 6.15 percent, to $70 in trading on the New York Stock Exchange. Shares of the company have traded in a 52-week range of $35.84 to $81.65.
