Zacks Research Comments on Terex Co.’s Q3 2024 Earnings (NYSE:TEX)

Terex Co. (NYSE:TEX) – Stock analysts at Zacks Research cut their Q3 2024 earnings estimates for shares of Terex in a research note issued to investors on Tuesday, September 17th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $1.91 for the quarter, down from their prior estimate of $1.92. The consensus estimate for Terex’s current full-year earnings is $7.21 per share. Zacks Research also issued estimates for Terex’s FY2024 earnings at $7.20 EPS, Q4 2025 earnings at $1.61 EPS, FY2025 earnings at $6.78 EPS and Q2 2026 earnings at $1.99 EPS.

A number of other equities research analysts also recently weighed in on the company. Evercore ISI dropped their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Jefferies Financial Group lowered their price target on shares of Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Robert W. Baird lifted their price objective on shares of Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. The Goldman Sachs Group decreased their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Citigroup assumed coverage on shares of Terex in a report on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.20.

Terex Stock Down 3.7 %

Shares of NYSE TEX opened at $51.86 on Friday. The stock has a market capitalization of $3.47 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. Terex has a 12-month low of $43.70 and a 12-month high of $68.08. The stock’s fifty day simple moving average is $55.96 and its two-hundred day simple moving average is $57.82.

Terex (NYSE:TEX) last released its quarterly earnings data 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. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $2.35 earnings per share.

Institutional Trading of Terex

Several institutional investors and hedge funds have recently bought and sold shares of TEX. Blue Trust Inc. increased its stake in shares of Terex by 57.5% in the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 187 shares during the period. FinTrust Capital Advisors LLC boosted its holdings in Terex by 202.2% in the first quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 465 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in Terex during the 4th quarter worth about $61,000. Principal Securities Inc. purchased a new position in shares of Terex during the 4th quarter valued at about $85,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Terex during the 2nd quarter valued at about $109,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Terex

In other news, Director Andra Rush purchased 2,205 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the purchase, the director now owns 21,983 shares in the company, valued at $1,194,995.88. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.90% of the company’s stock.

Terex Dividend Announcement

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

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.