Terex (NYSE:TEX) Issues FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Thursday morning. 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.

Terex Stock Down 0.5 %

Shares of NYSE:TEX traded down $0.31 during mid-day trading on Friday, hitting $59.59. 2,147,335 shares of the company traded hands, compared to its average volume of 754,668. 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 has a current ratio of 2.01, a quick ratio of 0.95 and a debt-to-equity ratio of 0.37. Terex has a 12-month low of $42.50 and a 12-month high of $65.89. The stock has a 50-day moving average price of $60.06 and a two-hundred day moving average price of $56.28.

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

Terex Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TEX. Bank of America reaffirmed an underperform rating and set a $57.00 price target on shares of Terex in a research report on Friday, January 19th. Evercore ISI dropped their price target on Terex from $65.00 to $63.00 and set an outperform rating on the stock in a research report on Tuesday, February 20th. JPMorgan Chase & Co. cut 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. Citigroup boosted their price objective on Terex from $54.00 to $63.00 and gave the company a neutral rating in a research note on Monday, February 12th. Finally, UBS Group lowered 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 note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $65.08.

Insider Activity at Terex

In related news, insider Kieran Hegarty sold 18,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the completion of the sale, the insider now directly owns 198,619 shares in the company, valued at approximately $11,281,559.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Terex news, CEO John L. Garrison, Jr. sold 59,094 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $60.07, for a total value of $3,549,776.58. Following the completion of the sale, the chief executive officer now owns 380,834 shares in the company, valued at approximately $22,876,698.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kieran Hegarty sold 18,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total value of $1,022,400.00. Following the completion of the sale, the insider now owns 198,619 shares of the company’s stock, valued at approximately $11,281,559.20. The disclosure for this sale can be found here. Insiders sold 132,039 shares of company stock worth $8,078,574 in the last ninety days. 1.90% of the stock is owned by company insiders.

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.