Terex (NYSE:TEX) Issues FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $7.15-7.45 for the period, compared to the consensus EPS estimate of $7.10. The company issued revenue guidance of $5.10-5.30 billion, compared to the consensus revenue estimate of $5.26 billion.

Analysts Set New Price Targets

Several analysts have recently weighed in on TEX shares. Citigroup started coverage on shares of Terex in a research note on Wednesday, June 26th. They set a neutral rating and a $60.00 price target for the company. JPMorgan Chase & Co. upped their target price on Terex from $59.00 to $65.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. Truist Financial cut their price target on Terex from $73.00 to $68.00 and set a buy rating on the stock in a research note on Tuesday, July 2nd. Raymond James assumed coverage on shares of Terex in a research note on Friday, June 28th. They issued a market perform rating for the company. Finally, UBS Group increased their target price on shares of Terex from $62.00 to $64.00 and gave the stock a neutral rating in a report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Terex currently has a consensus rating of Hold and an average target price of $64.33.

Terex Stock Down 0.8 %

NYSE TEX traded down $0.56 on Tuesday, hitting $65.70. The stock had a trading volume of 1,511,900 shares, compared to its average volume of 825,569. The business’s fifty day moving average price is $57.07 and its 200 day moving average price is $58.91. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 8.78 and a beta of 1.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.16 and a quick ratio of 1.06. Terex has a 52-week low of $43.70 and a 52-week high of $68.08.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 9th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.04%. Terex’s dividend payout ratio is currently 9.01%.

Insider Buying and Selling at Terex

In other news, CAO Stephen Johnston sold 3,239 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the sale, the chief accounting officer now owns 14,606 shares in the company, valued at $905,572. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Terex news, VP Scott Posner sold 12,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Stephen Johnston sold 3,239 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total transaction of $200,818.00. Following the sale, the chief accounting officer now directly owns 14,606 shares in the company, valued at $905,572. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,929 shares of company stock worth $1,958,307. 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.