Terex (NYSE:TEX) Issues FY 2024 Earnings Guidance

Terex (NYSE:TEX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 6.950-7.350 for the period, compared to the consensus EPS estimate of 6.980. The company issued revenue guidance of $5.2 billion-$5.4 billion, compared to the consensus revenue estimate of $5.2 billion. Terex also updated its FY24 guidance to $6.95-7.35 EPS.

Terex Trading Down 0.5 %

Shares of TEX traded down $0.31 during midday trading on Friday, hitting $59.59. The stock had a trading volume of 2,147,335 shares, compared to its average volume of 754,668. The business has a 50-day simple moving average of $60.06 and a two-hundred day simple moving average of $56.28. The company has a current ratio of 2.01, a quick ratio of 0.95 and a debt-to-equity ratio of 0.37. The firm has a market cap of $4.01 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 0.59 and a beta of 1.64. Terex has a fifty-two week low of $42.50 and a fifty-two week high of $65.89.

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. As a group, equities analysts forecast that Terex will post 7.05 EPS for the current year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.14%. Terex’s dividend payout ratio is currently 9.01%.

Analysts Set New Price Targets

Several brokerages have recently commented on TEX. Citigroup boosted their target price on shares of Terex from $54.00 to $63.00 and gave the company a neutral rating in a research note on Monday, February 12th. Evercore ISI reduced their target price on shares of Terex from $65.00 to $63.00 and set an outperform rating on the stock in a research note on Tuesday, February 20th. The Goldman Sachs Group boosted their target price on shares of Terex from $52.00 to $59.00 and gave the company a neutral rating in a research note on Tuesday, February 13th. UBS Group downgraded shares of Terex from a buy rating to a neutral rating and boosted their target price for the company from $61.00 to $62.00 in a research note on Tuesday, February 13th. Finally, JPMorgan Chase & Co. downgraded shares of Terex from an overweight rating to a neutral rating and set a $63.00 target price on the stock. in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $65.08.

Insiders Place Their Bets

In other Terex news, insider Joshua Gross sold 4,945 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $59.13, for a total transaction of $292,397.85. Following the completion of the sale, 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 accessible through the SEC website. In other news, insider Joshua Gross sold 4,945 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $59.13, for a total value of $292,397.85. Following the completion of the sale, 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 SEC, which is accessible through this hyperlink. Also, CEO John L. Garrison, Jr. sold 59,094 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total value of $3,549,776.58. Following the completion of the sale, the chief executive officer now directly owns 380,834 shares of the company’s stock, valued at $22,876,698.38. The disclosure for this sale can be found here. In the last three months, insiders sold 132,039 shares of company stock valued at $8,078,574. 1.90% of the stock is currently owned by 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.