Zacks Research Comments on Terex Co.’s Q3 2024 Earnings (NYSE:TEX)

Terex Co. (NYSE:TEX) – Equities researchers at Zacks Research cut their Q3 2024 earnings per share (EPS) estimates for Terex in a research note issued to investors on Tuesday, October 15th. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $1.18 per share for the quarter, down from their previous forecast of $1.22. The consensus estimate for Terex’s current full-year earnings is $5.88 per share. Zacks Research also issued estimates for Terex’s Q4 2024 earnings at $1.00 EPS, FY2024 earnings at $5.95 EPS, Q1 2025 earnings at $1.53 EPS, Q2 2025 earnings at $1.73 EPS, Q3 2025 earnings at $1.16 EPS, Q4 2025 earnings at $1.06 EPS, FY2025 earnings at $5.47 EPS, Q1 2026 earnings at $1.63 EPS, Q2 2026 earnings at $1.83 EPS, Q3 2026 earnings at $1.38 EPS and FY2026 earnings at $6.15 EPS.

Terex (NYSE:TEX) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.06 by $0.10. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.35 EPS.

Several other equities analysts also recently weighed in on TEX. Raymond James started coverage on shares of Terex in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Jefferies Financial Group cut their target price on Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Evercore ISI cut their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Citigroup lowered their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Finally, Robert W. Baird lifted their price target on Terex from $63.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Terex currently has an average rating of “Hold” and a consensus price target of $60.30.

Terex Stock Performance

TEX stock opened at $55.96 on Wednesday. The business has a 50 day moving average of $53.38 and a 200-day moving average of $56.92. The firm has a market cap of $3.77 billion, a PE ratio of 7.41, a P/E/G ratio of 4.43 and a beta of 1.53. Terex has a 12-month low of $43.70 and a 12-month high of $68.08. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of Terex by 57.5% in the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after buying an additional 187 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Terex by 83.3% in the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after buying an additional 335 shares during the period. FinTrust Capital Advisors LLC grew its stake in shares of Terex by 202.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 465 shares during the period. International Assets Investment Management LLC purchased a new stake in Terex in the 2nd quarter worth approximately $109,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Terex during the second quarter valued at approximately $111,000. Institutional investors own 92.88% of the company’s stock.

Insiders Place Their Bets

In other news, Director Andra Rush bought 2,205 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $54.36 per share, with a total value of $119,863.80. Following the completion of the acquisition, the director now owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a $0.17 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. Terex’s dividend payout ratio is currently 9.01%.

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.