Terex (NYSE:TEX) Issues FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $5.85-6.25 for the period, compared to the consensus estimate of $6.11. The company issued revenue guidance of $5.0-5.2 billion, compared to the consensus revenue estimate of $4.98 billion.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TEX. Citigroup decreased their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. The Goldman Sachs Group dropped their price objective on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Robert W. Baird cut their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday. Jefferies Financial Group reduced their price target on shares of Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, Evercore ISI lowered 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $59.22.

Terex Trading Down 0.6 %

Shares of TEX stock opened at $51.41 on Friday. The stock has a market capitalization of $3.43 billion, a P/E ratio of 7.51, a price-to-earnings-growth ratio of 4.28 and a beta of 1.53. Terex has a fifty-two week low of $46.94 and a fifty-two week high of $68.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.07 and a current ratio of 2.39. The company has a 50 day moving average price of $53.29 and a 200 day moving average price of $56.09.

Terex (NYSE:TEX) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.19. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The company’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.75 earnings per share. Equities research analysts predict that Terex will post 5.92 EPS for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 1.32%. Terex’s dividend payout ratio (DPR) is 9.93%.

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.