Terex (NYSE:TEX) Updates FY24 Earnings Guidance

Terex (NYSE:TEX) issued an update on its FY24 earnings guidance on Thursday morning. 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 Stock Performance

Terex stock opened at $51.86 on Friday. The business has a 50 day moving average of $55.96 and a 200-day moving average of $57.83. The company has a market capitalization of $3.47 billion, a P/E ratio of 6.87, a P/E/G ratio of 3.61 and a beta of 1.53. Terex has a 1 year low of $43.70 and a 1 year 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.

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

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.68 annualized dividend and a yield of 1.31%. Terex’s payout ratio is 9.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Terex from $68.00 to $55.00 and set a hold rating for the company in a research note on Thursday, July 11th. 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. Citigroup assumed coverage on Terex in a research note on Wednesday, June 26th. They issued a neutral rating and a $60.00 price target on the stock. Robert W. Baird raised their price objective on shares of Terex from $58.00 to $67.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Terex from $59.00 to $65.00 and gave the company a neutral rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $61.20.

Insider Activity at Terex

In related news, Director Andra Rush acquired 2,205 shares of the stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $54.36 per share, with a total value of $119,863.80. Following the completion of the purchase, the director now directly owns 21,983 shares in the company, valued at approximately $1,194,995.88. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by insiders.

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.