Terex (NYSE:TEX) Issues FY 2024 Earnings Guidance

Terex (NYSE:TEX) updated its FY 2024 earnings guidance on Thursday. 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

Shares of NYSE TEX traded down $2.07 during midday trading on Thursday, hitting $53.78. 792,024 shares of the stock traded hands, compared to its average volume of 821,634. The firm has a 50-day moving average of $55.95 and a two-hundred day moving average of $57.90. The firm has a market capitalization of $3.60 billion, a P/E ratio of 7.40, 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 one year low of $43.70 and a one year 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, topping 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 for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.35 EPS. On average, equities analysts forecast that Terex will post 7.21 EPS for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, August 9th. Terex’s dividend payout ratio is presently 9.01%.

Wall Street Analysts Forecast Growth

TEX has been the topic of several analyst reports. Jefferies Financial Group cut their price target on shares of Terex from $68.00 to $55.00 and set a hold rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. boosted their target price on shares of Terex from $59.00 to $65.00 and gave the company a neutral rating in a research report on Tuesday, July 23rd. Evercore ISI decreased 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. The Goldman Sachs Group upped their price target on shares of Terex from $64.00 to $72.00 and gave the stock a neutral rating in a research report on Thursday, August 1st. Finally, Robert W. Baird upped their price objective on shares of Terex from $58.00 to $67.00 and gave the company a neutral rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Terex currently has a consensus rating of Hold and an average target price of $63.30.

Insider Buying and Selling

In other news, Director Andra Rush purchased 2,205 shares of the stock in a transaction that occurred 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 acquisition, the director now owns 21,983 shares in the company, valued at $1,194,995.88. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently 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.