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

Terex (NYSE:TEX) issued its quarterly earnings data on Wednesday. The industrial products company reported $1.46 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. The business’s revenue was down 6.0% on a year-over-year basis. Terex updated its FY24 guidance to $5.85-6.25 EPS.

Terex Stock Performance

NYSE:TEX traded up $0.52 during mid-day trading on Thursday, hitting $52.05. 321,143 shares of the company traded hands, compared to its average volume of 823,572. The stock’s fifty day moving average price is $53.41 and its 200-day moving average price is $56.20. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 4.47 and a beta of 1.53. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. Terex has a one year low of $44.38 and a one year high of $68.08.

Terex Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Andra Rush bought 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, 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 $1,194,995.88. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Evercore ISI dropped their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Robert W. Baird dropped their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday. JPMorgan Chase & Co. lowered their target price on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, Truist Financial decreased their price objective on shares of Terex from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $59.22.

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.