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 earnings per share guidance of 5.800-6.200 for the period, compared to the consensus earnings per share estimate of 7.170. The company issued revenue guidance of $4.9 billion-$5.1 billion, compared to the consensus revenue estimate of $5.2 billion. Terex also updated its FY24 guidance to $5.80-6.20 EPS.

Terex Price Performance

TEX opened at $51.83 on Friday. The stock has a fifty day moving average of $55.96 and a 200-day moving average of $57.82. The firm has a market capitalization 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 12-month low of $43.70 and a 12-month high of $68.08. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36.

Terex (NYSE:TEX) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.10. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.35 earnings per share. Equities analysts forecast that Terex will post 7.21 EPS for the current fiscal year.

Terex Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Raymond James assumed coverage on Terex in a report on Friday, June 28th. They set a market perform rating for the company. The Goldman Sachs Group cut their price objective on Terex from $72.00 to $62.00 and set a neutral rating for the company in a report on Friday. JPMorgan Chase & Co. increased their price objective on Terex from $59.00 to $65.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. Citigroup assumed coverage on Terex in a report on Wednesday, June 26th. They set a neutral rating and a $60.00 price objective for the company. Finally, Truist Financial cut their price objective on Terex from $74.00 to $63.00 and set a buy rating for the company in a report on Friday. One research 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. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $61.20.

Insiders Place Their Bets

In other Terex news, Director Andra Rush purchased 2,205 shares of the stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $54.36 per share, with a total value of $119,863.80. Following the completion of the transaction, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Terex Company Profile

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.