Terex (NYSE:TEX) Updates FY24 Earnings Guidance

Terex (NYSE:TEX) issued an update on its FY24 earnings guidance on Thursday morning. 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. Terex also updated its FY 2024 guidance to 6.950-7.350 EPS.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group lowered Terex from a buy rating to a neutral rating and increased their price objective for the company from $61.00 to $62.00 in a report on Tuesday, February 13th. JPMorgan Chase & Co. cut shares of Terex from an overweight rating to a neutral rating and set a $63.00 target price for the company. in a report on Monday, March 18th. Truist Financial started coverage on Terex in a research report on Thursday, March 14th. They set a buy rating and a $73.00 price target on the stock. The Goldman Sachs Group boosted their price objective on Terex from $52.00 to $59.00 and gave the company a neutral rating in a report on Tuesday, February 13th. Finally, Evercore ISI lowered 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $65.08.

Terex Price Performance

Shares of Terex stock traded down $0.31 during trading hours on Friday, reaching $59.59. 2,147,335 shares of the company’s stock were exchanged, compared to its average volume of 754,668. The business has a fifty day moving average of $60.06 and a two-hundred day moving average of $56.28. The company has a quick ratio of 0.95, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $4.01 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 0.59 and a beta of 1.64. Terex has a 1 year low of $42.50 and a 1 year high of $65.89.

Terex (NYSE:TEX) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.23. Terex had a return on equity of 31.52% and a net margin of 9.87%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.23 billion. As a group, research analysts predict that Terex will post 6.95 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 8th were paid a $0.17 dividend. 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 (DPR) is 9.01%.

Insider Buying and Selling

In related news, CEO John L. Garrison, Jr. sold 59,094 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total value of $3,549,776.58. Following the sale, the chief executive officer now directly owns 380,834 shares in the company, valued at approximately $22,876,698.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO John L. Garrison, Jr. sold 50,000 shares of Terex stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $64.28, for a total value of $3,214,000.00. Following the completion of the sale, the chief executive officer now directly owns 315,483 shares of the company’s stock, valued at $20,279,247.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John L. Garrison, Jr. sold 59,094 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total value of $3,549,776.58. Following the completion of the sale, the chief executive officer now owns 380,834 shares in the company, valued at approximately $22,876,698.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 132,039 shares of company stock worth $8,078,574. Company 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.