Terex (NYSE:TEX) Releases 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.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial assumed coverage on shares of Terex in a research note on Thursday, March 14th. They set a buy rating and a $73.00 target price on the stock. Bank of America restated an underperform rating and set a $57.00 price objective on shares of Terex in a research report on Friday, January 19th. The Goldman Sachs Group raised their price objective on shares of Terex from $52.00 to $59.00 and gave the company a neutral rating in a research report on Tuesday, February 13th. UBS Group lowered shares of Terex from a buy rating to a neutral rating and raised their price objective for the company from $61.00 to $62.00 in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. lowered shares of Terex from an overweight rating to a neutral rating and set a $63.00 price objective for the company. in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $65.08.

Terex Stock Performance

TEX stock traded down $0.31 on Friday, reaching $59.59. 2,147,335 shares of the company were exchanged, compared to its average volume of 754,668. Terex has a 12 month low of $42.50 and a 12 month high of $65.89. The stock’s fifty day moving average price is $60.06 and its 200 day moving average price is $56.28. The firm has a market capitalization of $4.01 billion, a PE ratio of 7.89, a PEG ratio of 0.59 and a beta of 1.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 0.95.

Terex (NYSE:TEX) last posted its quarterly earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.41. Terex had a net margin of 9.87% and a return on equity of 31.52%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the company earned $1.34 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. On average, research analysts anticipate that Terex will post 7.05 EPS for the current fiscal year.

Terex Announces Dividend

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

Insider Activity

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

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.