Terex (NYSE:TEX) Updates FY 2024 Earnings Guidance

Terex (NYSE:TEX) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.800-6.200 for the period, compared to the consensus estimate of 7.170. The company issued revenue guidance of $4.9 billion-$5.1 billion, compared to the consensus revenue estimate of $5.2 billion. Terex also updated its FY24 guidance to $5.80-6.20 EPS.

Terex Price Performance

Terex stock opened at $51.86 on Friday. 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 quick ratio of 1.07 and a current ratio of 2.21. The firm has a 50 day moving average price of $55.96 and a 200 day moving average price of $57.83. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 3.61 and a beta of 1.53.

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

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 9th were issued a $0.17 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. Terex’s dividend payout ratio (DPR) is 9.01%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TEX. Citigroup initiated coverage on shares of Terex in a research report on Wednesday, June 26th. They set a neutral rating and a $60.00 target price for the company. Evercore ISI cut their target price on shares of Terex from $67.00 to $59.00 and set an outperform rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group decreased their price target on shares of Terex from $68.00 to $55.00 and set a hold rating for the company in a research report on Thursday, July 11th. Truist Financial cut their price objective on Terex from $74.00 to $63.00 and set a buy rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. upped their target price on Terex from $59.00 to $65.00 and gave the stock a neutral rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $61.20.

Insider Buying and Selling

In other Terex news, Director Andra Rush acquired 2,205 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the purchase, the director now directly owns 21,983 shares in the company, valued at $1,194,995.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

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.