Terex (NYSE:TEX) Updates FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $5.80-6.20 for the period, compared to the consensus EPS estimate of $7.28. The company issued revenue guidance of $4.85-5.05 billion, compared to the consensus revenue estimate of $5.18 billion. Terex also updated its FY 2024 guidance to 5.800-6.200 EPS.

Terex Price Performance

TEX stock opened at $53.83 on Friday. The business’s fifty day moving average price is $56.02 and its 200 day moving average price is $57.89. Terex has a 12-month low of $43.70 and a 12-month high of $68.08. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $3.60 billion, a PE ratio of 7.13, a P/E/G ratio of 3.61 and a beta of 1.53.

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

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were given a $0.17 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.68 annualized dividend and a yield of 1.26%. Terex’s dividend payout ratio is presently 9.01%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Terex from $72.00 to $62.00 and set a neutral rating on the stock in a research note on Friday. Raymond James started coverage on Terex in a report on Friday, June 28th. They issued a market perform rating for the company. Evercore ISI decreased their price target on Terex from $67.00 to $59.00 and set an outperform rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their price target on Terex from $59.00 to $65.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. Finally, Truist Financial lifted their price target on Terex from $68.00 to $74.00 and gave the stock a buy rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $62.30.

Insider Transactions at Terex

In other news, Director Andra Rush bought 2,205 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.