Terex (NYSE:TEX) Releases FY 2024 Earnings Guidance

by · The Markets Daily

Terex (NYSE:TEX – Get Free Report) 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.

Analysts Set New Price Targets

A number of brokerages have recently commented on TEX. Truist Financial raised their target price on shares of Terex from $68.00 to $74.00 and gave the company a buy rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on Terex from $59.00 to $65.00 and gave the company a neutral rating in a research note on Tuesday, July 23rd. Jefferies Financial Group decreased their price target on Terex from $68.00 to $55.00 and set a hold rating for the company in a report on Thursday, July 11th. Raymond James began coverage on shares of Terex in a research note on Friday, June 28th. They issued a market perform rating for the company. Finally, Citigroup assumed coverage on shares of Terex in a report on Wednesday, June 26th. They issued a neutral rating and a $60.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $63.30.

Read Our Latest Research Report on TEX

Terex Price Performance

Shares of TEX stock traded down $2.30 during midday trading on Thursday, reaching $53.55. 827,034 shares of the company were exchanged, compared to its average volume of 821,836. The company’s 50 day moving average price is $55.95 and its two-hundred day moving average price is $57.90. The company has a market cap of $3.58 billion, a P/E ratio of 7.40, a PEG ratio of 3.61 and a beta of 1.53. Terex has a 12 month low of $43.70 and a 12 month 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.

Terex (NYSE:TEX – Get Free Report) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.06 by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.35 earnings per share. On average, sell-side analysts expect that Terex will post 7.21 earnings per share for the current year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 9th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, August 9th. This represents a $0.68 annualized dividend and a yield of 1.27%. Terex’s dividend payout ratio is currently 9.01%.

Insider Activity at Terex

In other news, Director Andra Rush acquired 2,205 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $54.36 per share, with a total value of $119,863.80. Following the purchase, the director now owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

About Terex

(Get Free Report)

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.

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