Terex (NYSE:TEX) Releases FY 2024 Earnings Guidance

Terex (NYSE:TEX) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.800-6.200 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup assumed coverage on Terex in a research report on Wednesday, June 26th. They set a neutral rating and a $60.00 target price on the stock. Robert W. Baird lifted their target price on Terex from $58.00 to $67.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. Raymond James began coverage on shares of Terex in a research note on Friday, June 28th. They set a market perform rating for the company. Truist Financial cut their price target on shares of Terex from $74.00 to $63.00 and set a buy rating for the company in a research note on Friday. Finally, The Goldman Sachs Group cut their price target on shares of Terex from $72.00 to $62.00 and set a neutral rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $61.20.

Terex Stock Performance

NYSE:TEX opened at $51.83 on Friday. Terex has a 1 year low of $43.70 and a 1 year high of $68.08. The firm has a 50 day moving average of $55.96 and a 200-day moving average of $57.82. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $3.47 billion, a P/E ratio of 6.86, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53.

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

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 9th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Friday, August 9th. Terex’s dividend payout ratio (DPR) is currently 9.01%.

Insider Activity

In related news, Director Andra Rush acquired 2,205 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the transaction, the director now directly owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate 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.