Terex (NYSE:TEX) Releases FY 2024 Earnings Guidance

Terex (NYSE:TEX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 6.950-7.350 for the period, compared to the consensus estimate of 6.980. The company issued revenue guidance of $5.2 billion-$5.4 billion, compared to the consensus revenue estimate of $5.2 billion. Terex also updated its FY24 guidance to $6.95-7.35 EPS.

Terex Trading Down 1.3 %

Shares of TEX traded down $0.81 during midday trading on Thursday, hitting $59.83. The stock had a trading volume of 1,956,587 shares, compared to its average volume of 729,012. Terex has a 1 year low of $42.50 and a 1 year high of $65.89. The firm has a market cap of $4.03 billion, a PE ratio of 7.89, a price-to-earnings-growth ratio of 0.61 and a beta of 1.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 0.95. The stock’s 50 day moving average is $59.91 and its 200 day moving average is $56.21.

Terex (NYSE:TEX) last announced its earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share for the quarter, meeting the consensus estimate of $1.41. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.23 billion. Terex had a net margin of 10.06% and a return on equity of 32.89%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 earnings per share. As a group, analysts forecast that Terex will post 6.95 EPS for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 8th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.14%. The ex-dividend date was Thursday, March 7th. Terex’s dividend payout ratio is presently 8.96%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TEX shares. Citigroup raised their price target on shares of Terex from $54.00 to $63.00 and gave the stock a neutral rating in a research note on Monday, February 12th. The Goldman Sachs Group raised their price target on shares of Terex from $52.00 to $59.00 and gave the stock a neutral rating in a research note on Tuesday, February 13th. Bank of America reaffirmed an underperform rating and issued a $57.00 price target on shares of Terex in a research note on Friday, January 19th. UBS Group downgraded shares of Terex from a buy rating to a neutral rating and raised their target price for the company from $61.00 to $62.00 in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. downgraded shares of Terex from an overweight rating to a neutral rating and set a $63.00 target price on the stock. in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Terex currently has an average rating of Hold and a consensus target price of $65.08.

Insider Activity

In other news, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the sale, the insider now directly owns 198,619 shares in the company, valued at approximately $11,281,559.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO John L. Garrison, Jr. sold 59,094 shares of Terex stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total value of $3,549,776.58. Following the completion of the sale, the chief executive officer now directly owns 380,834 shares in the company, valued at approximately $22,876,698.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kieran Hegarty sold 18,000 shares of Terex stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the completion of the sale, the insider now owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 132,039 shares of company stock worth $8,078,574. Corporate insiders own 1.90% of the company’s stock.

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.