Terex (NYSE:TEX) Updates FY 2024 Earnings Guidance

Terex (NYSE:TEX) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 5.800-6.200 for the period, compared to the consensus earnings per share estimate of 7.170. The company issued revenue guidance of $4.9 billion-$5.1 billion, compared to the consensus revenue estimate of $5.2 billion. Terex also updated its FY24 guidance to $5.80-6.20 EPS.

Terex Trading Down 3.6 %

Shares of NYSE TEX opened at $53.83 on Friday. Terex has a fifty-two week low of $43.70 and a fifty-two week high of $68.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07. The firm has a market capitalization of $3.60 billion, a P/E ratio of 7.13, a P/E/G ratio of 3.61 and a beta of 1.53. The company’s 50 day simple moving average is $56.02 and its 200 day simple moving average is $57.89.

Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the company posted $2.35 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. On average, analysts predict that Terex will post 7.21 EPS for the current year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 9th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, August 9th. Terex’s dividend payout ratio is currently 9.01%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TEX. Evercore ISI reduced their price target on shares of Terex from $67.00 to $59.00 and set an outperform rating on the stock in a research report on Monday, August 19th. Citigroup assumed coverage on Terex in a report on Wednesday, June 26th. They set a neutral rating and a $60.00 target price on the stock. The Goldman Sachs Group decreased their target price on Terex from $72.00 to $62.00 and set a neutral rating for the company in a research note on Friday. JPMorgan Chase & Co. raised their price target on Terex from $59.00 to $65.00 and gave the stock a neutral rating in a research report on Tuesday, July 23rd. Finally, Truist Financial boosted their price objective on Terex from $68.00 to $74.00 and gave the company a buy rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $62.30.

Insiders Place Their Bets

In other Terex news, Director Andra Rush acquired 2,205 shares of the stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the acquisition, the director now directly owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.90% of the company’s stock.

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.