Terex (NYSE:TEX) Updates FY 2024 Earnings Guidance

Terex (NYSE:TEX) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 7.150-7.450 for the period, compared to the consensus estimate of 7.100. The company issued revenue guidance of $5.1 billion-$5.3 billion, compared to the consensus revenue estimate of $5.3 billion. Terex also updated its FY24 guidance to $7.15-7.45 EPS.

Terex Price Performance

Shares of TEX stock traded down $0.58 during trading on Tuesday, hitting $65.68. The company had a trading volume of 1,520,339 shares, compared to its average volume of 825,627. The stock’s 50-day moving average is $57.14 and its two-hundred day moving average is $58.97. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 8.70 and a beta of 1.57. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42. Terex has a 52 week low of $43.70 and a 52 week high of $68.08.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.04%. Terex’s payout ratio is currently 9.01%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Jefferies Financial Group dropped their target price on Terex from $68.00 to $55.00 and set a hold rating for the company in a research report on Thursday, July 11th. Truist Financial lowered their price objective on shares of Terex from $73.00 to $68.00 and set a buy rating for the company in a report on Tuesday, July 2nd. UBS Group increased their target price on shares of Terex from $62.00 to $64.00 and gave the company a neutral rating in a report on Tuesday, May 21st. Robert W. Baird boosted their price target on shares of Terex from $58.00 to $67.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Terex from $59.00 to $65.00 and gave the company a neutral rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $64.33.

Insider Buying and Selling

In other news, VP Scott Posner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $60.48, for a total transaction of $756,000.00. Following the transaction, the vice president now directly owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Kieran Hegarty sold 17,190 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $58.26, for a total value of $1,001,489.40. Following the completion of the transaction, the insider now directly owns 200,029 shares of the company’s stock, valued at $11,653,689.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott Posner sold 12,500 shares of Terex stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $60.48, for a total value of $756,000.00. Following the sale, the vice president now directly owns 58,224 shares in the company, valued at $3,521,387.52. The disclosure for this sale can be found here. Insiders have sold 32,929 shares of company stock valued at $1,958,307 over the last ninety days. 1.90% of the stock is 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.