Terex (NYSE:TEX) Posts Earnings Results, Beats Expectations By $0.19 EPS

Terex (NYSE:TEX) released its quarterly earnings data on Wednesday. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.19, Briefing.com reports. Terex had a return on equity of 27.89% and a net margin of 9.55%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. Terex updated its FY24 guidance to $5.85-6.25 EPS.

Terex Stock Performance

Shares of NYSE TEX traded up $0.52 during mid-day trading on Thursday, hitting $52.05. The company had a trading volume of 321,143 shares, compared to its average volume of 823,572. The firm has a market cap of $3.48 billion, a P/E ratio of 7.07, a PEG ratio of 4.47 and a beta of 1.53. 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 has a 12 month low of $44.38 and a 12 month high of $68.08. The business’s 50-day simple moving average is $53.41 and its 200-day simple moving average is $56.20.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s dividend payout ratio is currently 9.33%.

Insiders Place Their Bets

In related news, Director Andra Rush purchased 2,205 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $54.36 per share, with a total value of $119,863.80. Following the completion of the acquisition, the director now directly owns 21,983 shares in the company, valued at approximately $1,194,995.88. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TEX shares. JPMorgan Chase & Co. cut their price objective on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Evercore ISI decreased their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. The Goldman Sachs Group cut 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, September 20th. Truist Financial dropped their price objective on Terex from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, Robert W. Baird dropped their price target on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.22.

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.