Terex (NYSE:TEX) Updates FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.80-6.20 for the period, compared to the consensus 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

NYSE TEX opened at $51.86 on Friday. The firm has a market capitalization of $3.47 billion, a P/E ratio of 6.87, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average price is $55.96 and its two-hundred day moving average price is $57.83. Terex has a 1 year low of $43.70 and a 1 year high of $68.08.

Terex (NYSE:TEX) last issued its 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 business 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%. Terex’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted $2.35 EPS. As a group, research analysts anticipate that Terex will post 7.21 EPS for the current year.

Terex Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on TEX. Jefferies Financial Group cut 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 on the stock in a research report on Friday. Citigroup assumed coverage on Terex in a report on Wednesday, June 26th. They set a neutral rating and a $60.00 price target for the company. Robert W. Baird upped their price objective on Terex from $58.00 to $67.00 and gave the company a neutral rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Terex from $59.00 to $65.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $61.20.

Insider Activity

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

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.