Terex (NYSE:TEX) Issues 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. Terex also updated its FY 2024 guidance to 5.800-6.200 EPS.

Analysts Set New Price Targets

A number of research firms recently issued reports on TEX. Truist Financial upped 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. Evercore ISI cut their price target on Terex from $67.00 to $59.00 and set an outperform rating for the company in a report on Monday, August 19th. The Goldman Sachs Group cut their price target on Terex from $72.00 to $62.00 and set a neutral rating for the company in a report on Friday. JPMorgan Chase & Co. boosted their price target on Terex from $59.00 to $65.00 and gave the company a neutral rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird boosted their price target on Terex from $58.00 to $67.00 and gave the company a neutral rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Terex currently has an average rating of Hold and a consensus target price of $62.30.

Terex Trading Down 3.6 %

TEX stock opened at $53.83 on Friday. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 3.61 and a beta of 1.53. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $56.02 and a 200-day simple moving average of $57.89. Terex has a 52 week low of $43.70 and a 52 week high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping 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 business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the firm posted $2.35 EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts expect that Terex will post 7.21 EPS for the current year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 9th were issued a $0.17 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.68 annualized dividend and a yield of 1.26%. Terex’s dividend payout ratio is currently 9.01%.

Insider Activity at Terex

In related news, Director Andra Rush purchased 2,205 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the acquisition, the director now owns 21,983 shares in the company, valued at $1,194,995.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is 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.