Terex (NYSE:TEX) Releases FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $6.95-7.35 for the period, compared to the consensus estimate of $6.96. The company issued revenue guidance of $5.20-5.40 billion, compared to the consensus revenue estimate of $5.15 billion.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TEX shares. Bank of America reaffirmed an underperform rating and issued a $57.00 target price on shares of Terex in a report on Friday, January 19th. JPMorgan Chase & Co. cut shares of Terex from an overweight rating to a neutral rating and set a $63.00 price objective for the company. in a research note on Monday, March 18th. Evercore ISI reduced their price objective on shares of Terex from $65.00 to $63.00 and set an outperform rating for the company in a research note on Tuesday, February 20th. UBS Group cut shares of Terex from a buy rating to a neutral rating and increased their price objective for the stock from $61.00 to $62.00 in a research note on Tuesday, February 13th. Finally, Truist Financial assumed coverage on shares of Terex in a research note on Thursday, March 14th. They issued a buy rating and a $73.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $65.08.

Terex Stock Down 1.2 %

Shares of Terex stock traded down $0.74 on Thursday, reaching $59.90. The stock had a trading volume of 1,929,023 shares, compared to its average volume of 728,632. The stock has a market capitalization of $4.03 billion, a P/E ratio of 7.99, a P/E/G ratio of 0.61 and a beta of 1.64. Terex has a 1 year low of $42.50 and a 1 year high of $65.89. 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 50 day moving average price of $59.91 and a 200 day moving average price of $56.21.

Terex (NYSE:TEX) last announced its quarterly earnings data on Friday, February 9th. The industrial products company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. Terex had a net margin of 10.06% and a return on equity of 32.89%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the business posted $1.34 EPS. The business’s quarterly revenue was up .4% compared to the same quarter last year. As a group, equities research analysts forecast that Terex will post 6.95 EPS for the current year.

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 $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, March 7th. Terex’s payout ratio is presently 8.96%.

Insider Transactions at Terex

In related news, 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 value of $3,214,000.00. Following the completion of the sale, the chief executive officer now owns 315,483 shares of the company’s stock, valued at $20,279,247.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO John L. Garrison, Jr. sold 50,000 shares of the 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 sale, the chief executive officer now owns 315,483 shares of the company’s stock, valued at $20,279,247.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the completion of the sale, the insider now directly owns 198,619 shares in the company, valued at approximately $11,281,559.20. The disclosure for this sale can be found here. Insiders sold 132,039 shares of company stock valued at $8,078,574 over the last 90 days. 1.90% of the stock is currently 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.