Terex (NYSE:TEX) Issues FY 2024 Earnings Guidance

Terex (NYSE:TEX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 5.800-6.200 for the period, compared to the consensus earnings per share estimate of 7.170. The company issued revenue guidance of $4.9 billion-$5.1 billion, compared to the consensus revenue estimate of $5.2 billion. Terex also updated its FY24 guidance to $5.80-6.20 EPS.

Terex Stock Performance

NYSE:TEX opened at $53.83 on Friday. The firm’s 50-day moving average is $56.02 and its 200-day moving average is $57.89. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 3.61 and a beta of 1.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21. Terex has a 52-week low of $43.70 and a 52-week high of $68.08.

Terex (NYSE:TEX) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company posted $2.35 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that Terex will post 7.21 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.68 dividend on an annualized basis and a yield of 1.26%. Terex’s dividend payout ratio is currently 9.01%.

Wall Street Analysts Forecast Growth

TEX has been the subject of a number of analyst reports. Robert W. Baird raised their price objective on shares of Terex from $58.00 to $67.00 and gave the stock a neutral rating in a report on Monday, July 22nd. The Goldman Sachs Group decreased their price objective on Terex from $72.00 to $62.00 and set a neutral rating on the stock in a report on Friday. Evercore ISI lowered their price objective on Terex from $67.00 to $59.00 and set an outperform rating on the stock in a research note on Monday, August 19th. Raymond James initiated coverage on Terex in a research report on Friday, June 28th. They set a market perform rating for the company. Finally, JPMorgan Chase & Co. upped their price target on Terex from $59.00 to $65.00 and gave the company a neutral rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $62.30.

Insider Activity at Terex

In other Terex news, Director Andra Rush acquired 2,205 shares of Terex stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $54.36 per share, with a total value of $119,863.80. Following the completion of the purchase, the director now owns 21,983 shares in the company, valued at $1,194,995.88. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.