Terex (NYSE:TEX) Issues FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $6.95-7.35 for the period, compared to the consensus EPS estimate of $6.96. The company issued revenue guidance of $5.20-5.40 billion, compared to the consensus revenue estimate of $5.15 billion. Terex also updated its FY 2024 guidance to 6.950-7.350 EPS.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group cut shares of Terex from a buy rating to a neutral rating and boosted their price objective for the company from $61.00 to $62.00 in a research report on Tuesday, February 13th. Bank of America reissued an underperform rating and set a $57.00 price target on shares of Terex in a research report on Friday, January 19th. Truist Financial started coverage on shares of Terex in a research report on Thursday, March 14th. They set a buy rating and a $73.00 price target on the stock. JPMorgan Chase & Co. cut shares of Terex from an overweight rating to a neutral rating and set a $63.00 price target on the stock. in a research report on Monday, March 18th. Finally, Evercore ISI cut their price target on shares of Terex from $65.00 to $63.00 and set an outperform rating on the stock in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $65.08.

Terex Stock Performance

TEX traded down $0.31 on Friday, reaching $59.59. The company had a trading volume of 2,147,335 shares, compared to its average volume of 754,668. Terex has a fifty-two week low of $42.50 and a fifty-two week high of $65.89. The stock has a market cap of $4.01 billion, a P/E ratio of 7.89, a P/E/G ratio of 0.59 and a beta of 1.64. The company’s fifty day moving average is $60.06 and its 200 day moving average is $56.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.95 and a current ratio of 2.01.

Terex (NYSE:TEX) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.23. Terex had a net margin of 9.87% and a return on equity of 31.52%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.23 billion. As a group, analysts predict that Terex will post 6.95 earnings per share for the current fiscal year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. Terex’s payout ratio is presently 9.01%.

Insiders Place Their Bets

In other Terex news, insider Kieran Hegarty sold 18,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the transaction, the insider now owns 198,619 shares in the company, valued at approximately $11,281,559.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Terex news, insider Kieran Hegarty sold 18,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the transaction, the insider now owns 198,619 shares in the company, valued at approximately $11,281,559.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joshua Gross sold 4,945 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $59.13, for a total transaction of $292,397.85. Following the sale, the insider now directly owns 21,457 shares of the company’s stock, valued at approximately $1,268,752.41. The disclosure for this sale can be found here. Insiders have sold a total of 132,039 shares of company stock worth $8,078,574 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Terex Company Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.