Zacks Research Weighs in on Terex Co.’s Q2 2024 Earnings (NYSE:TEX)

Terex Co. (NYSE:TEX) – Investment analysts at Zacks Research dropped their Q2 2024 earnings per share estimates for Terex in a research note issued to investors on Wednesday, July 17th. Zacks Research analyst M. Das now anticipates that the industrial products company will earn $2.02 per share for the quarter, down from their previous forecast of $2.03. The consensus estimate for Terex’s current full-year earnings is $7.08 per share. Zacks Research also issued estimates for Terex’s Q3 2024 earnings at $1.90 EPS, FY2024 earnings at $7.04 EPS, Q2 2025 earnings at $1.93 EPS and Q2 2026 earnings at $1.89 EPS.

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group lowered their target price on Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. UBS Group boosted their price objective on Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Raymond James began coverage on shares of Terex in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial lowered their price target on shares of Terex from $73.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Terex from $63.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.67.

Terex Stock Performance

NYSE TEX opened at $56.46 on Friday. The company has a 50-day simple moving average of $56.71 and a two-hundred day simple moving average of $58.55. Terex has a 12-month low of $43.70 and a 12-month high of $65.89. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 7.48 and a beta of 1.57. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.23. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Terex had a net margin of 9.87% and a return on equity of 30.53%.

Hedge Funds Weigh In On Terex

Several large investors have recently made changes to their positions in TEX. Diversified Trust Co purchased a new position in Terex during the fourth quarter valued at $202,000. Vest Financial LLC purchased a new position in shares of Terex in the 4th quarter worth about $233,000. Profit Investment Management LLC bought a new position in Terex in the 4th quarter worth about $2,316,000. Raymond James & Associates grew its position in Terex by 1.1% during the 4th quarter. Raymond James & Associates now owns 32,419 shares of the industrial products company’s stock valued at $1,863,000 after purchasing an additional 356 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Terex by 5.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,077 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 407 shares in the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Scott Posner sold 12,500 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the transaction, the vice president now owns 58,224 shares of the company’s stock, valued at approximately $3,521,387.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Scott Posner sold 12,500 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $60.48, for a total transaction of $756,000.00. Following the sale, the vice president now owns 58,224 shares in the company, valued at approximately $3,521,387.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Stephen Johnston sold 3,239 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the completion of the transaction, the chief accounting officer now owns 14,606 shares of the company’s stock, valued at $905,572. The disclosure for this sale can be found here. Insiders sold a total of 32,929 shares of company stock valued at $1,958,307 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Thursday, June 6th. Terex’s dividend payout ratio is currently 9.01%.

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.