Terex (NYSE:TEX) Releases FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $5.85-6.25 for the period, compared to the consensus EPS estimate of $6.11. The company issued revenue guidance of $5.0-5.2 billion, compared to the consensus revenue estimate of $4.98 billion.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Citigroup dropped their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Evercore ISI reduced their price target on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Truist Financial decreased their price objective on Terex from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group lowered their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, Robert W. Baird decreased their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Terex has an average rating of “Hold” and an average target price of $59.22.

Terex Price Performance

TEX stock traded down $0.30 on Friday, reaching $51.41. The company had a trading volume of 592,733 shares, compared to its average volume of 825,405. The company has a market cap of $3.44 billion, a P/E ratio of 7.51, a PEG ratio of 4.26 and a beta of 1.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.07 and a current ratio of 2.39. Terex has a 1 year low of $46.94 and a 1 year high of $68.08. The company’s fifty day moving average is $53.29 and its 200 day moving average is $56.09.

Terex (NYSE:TEX) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.19. Terex had a return on equity of 24.92% and a net margin of 9.08%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company posted $1.75 EPS. The company’s revenue was down 6.0% compared to the same quarter last year. On average, research analysts forecast that Terex will post 5.92 earnings per share for the current year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s dividend payout ratio is currently 9.93%.

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.