Terex (NYSE:TEX) Updates FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $7.15-7.45 for the period, compared to the consensus 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. Terex also updated its FY 2024 guidance to 7.150-7.450 EPS.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Jefferies Financial Group cut their price target on Terex from $68.00 to $55.00 and set a hold rating for the company in a research note on Thursday, July 11th. UBS Group upped their price target on shares of Terex from $62.00 to $64.00 and gave the company a neutral rating in a research note on Tuesday, May 21st. Robert W. Baird boosted their target price on shares of Terex from $58.00 to $67.00 and gave the company a neutral rating in a report on Monday, July 22nd. Truist Financial raised their price target on Terex from $68.00 to $74.00 and gave the stock a buy rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on Terex from $59.00 to $65.00 and gave the company a neutral rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average price target of $65.92.

Terex Stock Down 6.5 %

Shares of NYSE:TEX traded down $3.81 during trading on Friday, reaching $54.92. 304,063 shares of the stock traded hands, compared to its average volume of 835,507. Terex has a 52-week low of $43.70 and a 52-week high of $68.08. The stock has a market cap of $3.70 billion, a P/E ratio of 7.77 and a beta of 1.57. The stock has a 50-day moving average of $57.14 and a two-hundred day moving average of $59.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16.

Terex (NYSE:TEX) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 28.71%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm posted $2.35 EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that Terex will post 7.26 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.68 dividend on an annualized basis and a yield of 1.24%. Terex’s dividend payout ratio is currently 9.01%.

Insider Transactions at Terex

In other Terex news, VP Scott Posner sold 12,500 shares of Terex stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $60.48, for a total transaction of $756,000.00. Following the transaction, the vice president now owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Terex news, CAO Stephen Johnston sold 3,239 shares of Terex stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total value of $200,818.00. Following the sale, the chief accounting officer now directly owns 14,606 shares in the company, valued at approximately $905,572. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Scott Posner sold 12,500 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The disclosure for this sale can be found here. 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.