Terex (NYSE:TEX) Issues FY24 Earnings Guidance

Terex (NYSE:TEX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.80-6.20 for the period, compared to the consensus earnings per share estimate of $7.28. The company issued revenue guidance of $4.85-5.05 billion, compared to the consensus revenue estimate of $5.18 billion. Terex also updated its FY 2024 guidance to 5.800-6.200 EPS.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TEX shares. Evercore ISI cut their target price on Terex from $67.00 to $59.00 and set an outperform rating on the stock in a research report on Monday, August 19th. The Goldman Sachs Group reduced their price objective on Terex from $72.00 to $62.00 and set a neutral rating on the stock in a research note on Friday. Robert W. Baird boosted their target price on Terex from $58.00 to $67.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Raymond James assumed coverage on shares of Terex in a report on Friday, June 28th. They issued a market perform rating on the stock. Finally, Citigroup began coverage on shares of Terex in a research report on Wednesday, June 26th. They issued a neutral rating and a $60.00 price objective for the company. One investment 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, Terex presently has an average rating of Hold and an average target price of $61.20.

Terex Stock Performance

NYSE:TEX opened at $51.83 on Friday. The firm has a 50-day moving average of $55.96 and a two-hundred day moving average of $57.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07. The stock has a market cap of $3.47 billion, a P/E ratio of 6.86, a PEG ratio of 3.61 and a beta of 1.53. Terex has a 1-year low of $43.70 and a 1-year high of $68.08.

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

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, August 9th. Terex’s dividend payout ratio is currently 9.01%.

Insider Activity at Terex

In other Terex news, Director Andra Rush bought 2,205 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the purchase, the director now directly owns 21,983 shares in the company, valued at $1,194,995.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is owned by corporate insiders.

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.