Terex (NYSE:TEX) Posts Earnings Results, Beats Expectations By $0.15 EPS

Terex (NYSE:TEX) issued its quarterly earnings results on Wednesday. The industrial products company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.31 by $0.15, Briefing.com reports. Terex had a return on equity of 24.92% and a net margin of 9.08%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business earned $1.75 earnings per share. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. Terex updated its FY24 guidance to $5.85-6.25 EPS.

Terex Trading Down 0.6 %

TEX stock traded down $0.30 during trading on Friday, hitting $51.41. The company had a trading volume of 592,975 shares, compared to its average volume of 786,266. The firm has a 50-day moving average price of $53.29 and a 200-day moving average price of $56.05. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 4.28 and a beta of 1.53. Terex has a 12 month low of $46.94 and a 12 month high of $68.08. The company has a quick ratio of 1.07, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio (DPR) is presently 9.93%.

Analysts Set New Price Targets

A number of research firms have recently commented on TEX. Truist Financial dropped their price objective on Terex from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Evercore ISI reduced their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Jefferies Financial Group reduced their price objective on Terex from $68.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, July 11th. The Goldman Sachs Group lowered their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Finally, Robert W. Baird lowered their price target on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $59.22.

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.