Terex (NYSE:TEX) Issues FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $6.95-7.35 for the period, compared to the consensus EPS estimate of $6.96. The company issued revenue guidance of $5.20-5.40 billion, compared to the consensus revenue estimate of $5.15 billion.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. downgraded Terex from an overweight rating to a neutral rating and set a $63.00 price objective on the stock. in a research note on Monday, March 18th. Evercore ISI decreased their target price on Terex from $65.00 to $63.00 and set an outperform rating on the stock in a research note on Tuesday, February 20th. Bank of America reissued an underperform rating and set a $57.00 target price on shares of Terex in a research note on Friday, January 19th. Citigroup lifted their target price on Terex from $54.00 to $63.00 and gave the company a neutral rating in a research report on Monday, February 12th. Finally, The Goldman Sachs Group boosted their price target on Terex from $52.00 to $59.00 and gave the stock a neutral rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $65.08.

Terex Stock Performance

Shares of TEX traded down $0.74 during midday trading on Thursday, reaching $59.90. 1,929,023 shares of the stock were exchanged, compared to its average volume of 728,632. The business’s 50-day moving average price is $59.91 and its 200 day moving average price is $56.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 0.95. Terex has a twelve month low of $42.50 and a twelve month high of $65.89. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 7.99, a PEG ratio of 0.61 and a beta of 1.64.

Terex (NYSE:TEX) last announced its quarterly earnings data on Friday, February 9th. The industrial products company reported $1.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.41. Terex had a return on equity of 32.89% and a net margin of 10.06%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the company earned $1.34 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. On average, sell-side analysts expect that Terex will post 6.95 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 8th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. Terex’s dividend payout ratio is presently 8.96%.

Insider Activity

In other Terex news, insider Joshua Gross sold 4,945 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total value of $292,397.85. Following the completion of the transaction, the insider now directly owns 21,457 shares of the company’s stock, valued at approximately $1,268,752.41. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Terex news, insider Joshua Gross sold 4,945 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total value of $292,397.85. Following the sale, the insider now owns 21,457 shares in the company, valued at $1,268,752.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John L. Garrison, Jr. sold 59,094 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the completion of the transaction, the chief executive officer now owns 380,834 shares of the company’s stock, valued at $22,876,698.38. The disclosure for this sale can be found here. Insiders sold 132,039 shares of company stock valued at $8,078,574 in the last ninety days. Company 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.