Terex (NYSE:TEX) Releases FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.80-6.20 for the period, compared to the consensus estimate of $7.28. The company issued revenue guidance of $4.85-5.05 billion, compared to the consensus revenue estimate of $5.18 billion.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TEX. Jefferies Financial Group reduced their price objective on shares of Terex from $68.00 to $55.00 and set a hold rating for the company in a research note on Thursday, July 11th. The Goldman Sachs Group upped their price target on shares of Terex from $64.00 to $72.00 and gave the company a neutral rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on Terex from $59.00 to $65.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. Robert W. Baird boosted their price objective on Terex from $58.00 to $67.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. Finally, Raymond James initiated coverage on Terex in a report on Friday, June 28th. They issued a market perform rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $63.30.

Terex Trading Up 0.7 %

Terex stock opened at $55.86 on Thursday. The business has a 50 day moving average price of $55.95 and a two-hundred day moving average price of $57.90. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. Terex has a 12 month low of $43.70 and a 12 month high of $68.08. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 7.40, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53.

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

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.22%. Terex’s dividend payout ratio (DPR) is currently 9.01%.

Insider Activity at Terex

In other Terex news, Director Andra Rush purchased 2,205 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the purchase, the director now directly owns 21,983 shares in the company, valued at $1,194,995.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by insiders.

About Terex

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.