Terex (NYSE:TEX) Issues FY24 Earnings Guidance

Terex (NYSE:TEX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $6.95-7.35 for the period, compared to the consensus EPS estimate of $6.96. The company issued revenue guidance of $5.20-5.40 billion, compared to the consensus revenue estimate of $5.15 billion. Terex also updated its FY 2024 guidance to 6.950-7.350 EPS.

Terex Stock Down 0.5 %

Shares of NYSE TEX traded down $0.31 during midday trading on Friday, reaching $59.59. 2,147,335 shares of the company’s stock were exchanged, compared to its average volume of 754,668. Terex has a 52-week low of $42.50 and a 52-week high of $65.89. The stock has a market capitalization of $4.01 billion, a PE ratio of 7.89, a price-to-earnings-growth ratio of 0.59 and a beta of 1.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.95 and a current ratio of 2.01. The business’s fifty day moving average price is $60.06 and its two-hundred day moving average price is $56.28.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.23. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.23 billion. Terex had a return on equity of 31.52% and a net margin of 9.87%. Analysts forecast that Terex will post 6.95 EPS for the current year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were paid a $0.17 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.14%. Terex’s payout ratio is currently 9.01%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TEX shares. UBS Group downgraded Terex from a buy rating to a neutral rating and lifted their target price for the company from $61.00 to $62.00 in a research note on Tuesday, February 13th. Truist Financial began coverage on Terex in a research report on Thursday, March 14th. They set a buy rating and a $73.00 price objective for the company. Citigroup boosted their price objective on Terex from $54.00 to $63.00 and gave the stock a neutral rating in a research report on Monday, February 12th. Bank of America reiterated an underperform rating and set a $57.00 price objective on shares of Terex in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. downgraded Terex from an overweight rating to a neutral rating and set a $63.00 price objective for the company. in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $65.08.

Insider Buying and Selling at Terex

In other news, insider Kieran Hegarty sold 18,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the transaction, the insider now directly owns 198,619 shares in the company, valued at approximately $11,281,559.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Kieran Hegarty sold 18,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the transaction, the insider now directly owns 198,619 shares in the company, valued at approximately $11,281,559.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joshua Gross sold 4,945 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total transaction of $292,397.85. Following the transaction, the insider now owns 21,457 shares in the company, valued at $1,268,752.41. The disclosure for this sale can be found here. Insiders have sold a total of 132,039 shares of company stock valued at $8,078,574 in the last three months. 1.90% of the stock is currently owned by company 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.