Terex (NYSE:TEX) Posts Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Terex (NYSE:TEX) issued its earnings results on Thursday. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.23, reports. Terex had a return on equity of 31.52% and a net margin of 9.87%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.23 billion. Terex updated its FY24 guidance to $6.95-7.35 EPS and its FY 2024 guidance to 6.950-7.350 EPS.

Terex Stock Down 0.5 %

NYSE TEX opened at $59.59 on Friday. The company has a quick ratio of 0.95, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. Terex has a 52 week low of $42.50 and a 52 week high of $65.89. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 0.59 and a beta of 1.64. The company has a fifty day moving average of $60.06 and a two-hundred day moving average of $56.28.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 8th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.14%. Terex’s payout ratio is presently 9.01%.

Insider Activity

In other Terex news, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the completion of the sale, the insider now owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Terex news, insider Kieran Hegarty sold 18,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total value of $1,022,400.00. Following the transaction, the insider now owns 198,619 shares of the company’s stock, valued at approximately $11,281,559.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joshua Gross sold 4,945 shares of Terex stock in a transaction on Tuesday, March 19th. The stock was 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 of the company’s stock, valued at $1,268,752.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,039 shares of company stock valued at $8,078,574. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Terex

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in shares of Terex by 179.0% during the fourth quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock valued at $27,000 after buying an additional 299 shares during the period. Avior Wealth Management LLC increased its position in Terex by 440.7% during the 3rd quarter. Avior Wealth Management LLC now owns 492 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 401 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Terex in the 4th quarter valued at about $29,000. FinTrust Capital Advisors LLC bought a new position in shares of Terex during the third quarter valued at approximately $31,000. Finally, Quantbot Technologies LP purchased a new position in Terex during the third quarter valued at approximately $32,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TEX. Citigroup boosted their target price on shares of Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. UBS Group downgraded shares of Terex from a “buy” rating to a “neutral” rating and lifted their price target for the company from $61.00 to $62.00 in a report on Tuesday, February 13th. Evercore ISI dropped their price objective on shares of Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. The Goldman Sachs Group raised their price objective on Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. downgraded Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price on the stock. in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $65.08.

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.