Terex (NYSE:TEX) Issues FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $5.80-6.20 for the period, compared to the consensus EPS 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 Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their target price on Terex from $59.00 to $65.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. Jefferies Financial Group reduced their price objective on Terex from $68.00 to $55.00 and set a hold rating on the stock in a research note on Thursday, July 11th. Truist Financial raised their target price on Terex from $68.00 to $74.00 and gave the company a buy rating in a research note on Thursday, August 1st. Citigroup started coverage on Terex in a report on Wednesday, June 26th. They issued a neutral rating and a $60.00 price target for the company. Finally, Raymond James started coverage on shares of Terex in a report on Friday, June 28th. They set a market perform rating on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $63.30.

Terex Stock Up 0.7 %

Shares of NYSE TEX opened at $55.86 on Thursday. The firm’s 50-day moving average is $55.95 and its 200-day moving average is $57.90. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. Terex has a 1 year low of $43.70 and a 1 year high of $68.08. The firm has a market capitalization of $3.74 billion, a PE ratio of 7.40, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53.

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

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors 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 yield of 1.22%. The ex-dividend date of this dividend is Friday, August 9th. Terex’s payout ratio is 9.01%.

Insider Activity at Terex

In other news, Director Andra Rush purchased 2,205 shares of Terex stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $54.36 per share, with a total value of $119,863.80. Following the completion of the transaction, the director now directly owns 21,983 shares in the company, valued at approximately $1,194,995.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.