Terex (NYSE:TEX) Issues FY 2024 Earnings Guidance

Terex (NYSE:TEX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 6.950-7.350 for the period, compared to the consensus EPS estimate of 6.980. The company issued revenue guidance of $5.2 billion-$5.4 billion, compared to the consensus revenue estimate of $5.2 billion. Terex also updated its FY24 guidance to $6.95-7.35 EPS.

Terex Stock Down 0.5 %

Shares of Terex stock traded down $0.31 during trading hours on Friday, hitting $59.59. 2,147,335 shares of the company’s stock traded hands, compared to its average volume of 754,668. The stock has a 50 day simple moving average of $60.06 and a 200-day simple 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 cap of $4.01 billion, a PE ratio of 7.89, a PEG ratio of 0.59 and a beta of 1.64. Terex has a twelve month low of $42.50 and a twelve month high of $65.89.

Terex (NYSE:TEX) last posted its quarterly earnings results on Friday, February 9th. The industrial products company reported $1.41 EPS for the quarter, hitting analysts’ consensus estimates of $1.41. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. Terex had a return on equity of 31.52% and a net margin of 9.87%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the firm earned $1.34 earnings per share. Equities research analysts anticipate that Terex will post 7.05 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. Investors 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 dividend on an annualized basis and a yield of 1.14%. Terex’s dividend payout ratio (DPR) is 9.01%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America reiterated an underperform rating and issued a $57.00 price target on shares of Terex in a research note on Friday, January 19th. JPMorgan Chase & Co. downgraded Terex from an overweight rating to a neutral rating and set a $63.00 target price for the company. in a research note on Monday, March 18th. Evercore ISI decreased their price target on shares of Terex from $65.00 to $63.00 and set an outperform rating on the stock in a research report on Tuesday, February 20th. UBS Group lowered shares of Terex from a buy rating to a neutral rating and lifted their price target for the stock from $61.00 to $62.00 in a research report on Tuesday, February 13th. Finally, The Goldman Sachs Group lifted their price target on shares of Terex from $52.00 to $59.00 and gave the stock a neutral rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $65.08.

Insiders Place Their Bets

In other Terex news, CEO John L. Garrison, Jr. sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $64.28, for a total transaction of $3,214,000.00. Following the completion of the transaction, the chief executive officer now owns 315,483 shares of the company’s stock, valued at approximately $20,279,247.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 transaction of $292,397.85. Following the completion of the transaction, the insider now owns 21,457 shares of the company’s stock, valued at $1,268,752.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John L. Garrison, Jr. sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $64.28, for a total transaction of $3,214,000.00. Following the transaction, the chief executive officer now directly owns 315,483 shares of the company’s stock, valued at approximately $20,279,247.24. The disclosure for this sale can be found here. Insiders sold a total of 132,039 shares of company stock valued at $8,078,574 in the last quarter. 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.