Terex (NYSE:TEX) Updates FY 2022 Earnings Guidance

Terex (NYSE:TEXGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.80-$4.20 for the period, compared to the consensus earnings per share estimate of $3.73. The company issued revenue guidance of $4.10 billion-$4.30 billion, compared to the consensus revenue estimate of $4.23 billion. Terex also updated its FY22 guidance to $3.80-4.20 EPS.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley cut their target price on Terex from $42.00 to $30.00 and set an equal weight rating on the stock in a research note on Monday, July 18th. Credit Suisse Group raised their price target on Terex from $37.00 to $40.00 and gave the stock a neutral rating in a research report on Thursday. Bank of America raised Terex from a neutral rating to a buy rating and dropped their price target for the stock from $41.00 to $38.00 in a research report on Friday, May 13th. Citigroup raised their price target on Terex from $35.00 to $40.00 in a research report on Thursday. Finally, TheStreet lowered Terex from a b- rating to a c+ rating in a research report on Thursday, July 7th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $45.50.

Terex Stock Down 1.1 %

TEX stock traded down $0.39 during mid-day trading on Friday, reaching $34.11. The company had a trading volume of 472,138 shares, compared to its average volume of 738,871. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.00 and a quick ratio of 0.99. The stock has a 50 day simple moving average of $31.22 and a two-hundred day simple moving average of $35.39. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 0.53 and a beta of 1.62. Terex has a 52 week low of $26.64 and a 52 week high of $53.82.

Terex (NYSE:TEXGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.20. Terex had a return on equity of 21.46% and a net margin of 5.73%. During the same period in the prior year, the business earned $1.02 earnings per share. As a group, equities analysts predict that Terex will post 3.84 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 19th. Shareholders of record on Friday, August 12th will be paid a $0.13 dividend. The ex-dividend date is Thursday, August 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.52%. Terex’s dividend payout ratio is 15.71%.

Insider Buying and Selling at Terex

In other news, VP Scott Posner sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $33.96, for a total value of $67,920.00. Following the completion of the sale, the vice president now directly owns 64,621 shares of the company’s stock, valued at $2,194,529.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Terex

A number of hedge funds have recently made changes to their positions in the business. Yousif Capital Management LLC lifted its holdings in Terex by 2.0% during the 1st quarter. Yousif Capital Management LLC now owns 37,276 shares of the industrial products company’s stock worth $1,329,000 after purchasing an additional 747 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in Terex by 45.5% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,740 shares of the industrial products company’s stock worth $917,000 after purchasing an additional 8,054 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Terex by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,581 shares of the industrial products company’s stock worth $912,000 after purchasing an additional 2,439 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Terex by 12.4% during the 1st quarter. Advisors Asset Management Inc. now owns 23,580 shares of the industrial products company’s stock worth $841,000 after purchasing an additional 2,595 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its holdings in Terex by 40.0% during the 1st quarter. Engineers Gate Manager LP now owns 22,940 shares of the industrial products company’s stock worth $818,000 after purchasing an additional 6,552 shares during the last quarter. 85.46% of the stock is owned by institutional investors and hedge funds.

About Terex

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Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment designs, manufactures, services, and markets aerial work platform equipment, utility equipment, and telehandlers under the Terex and Genie brands.

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Earnings History and Estimates for Terex (NYSE:TEX)

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