Terex (NYSE:TEX) Releases FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $7.15-7.45 for the period, compared to the consensus estimate of $7.10. The company issued revenue guidance of $5.10-5.30 billion, compared to the consensus revenue estimate of $5.26 billion. Terex also updated its FY 2024 guidance to 7.150-7.450 EPS.

Wall Street Analyst Weigh In

Several brokerages recently commented on TEX. Citigroup started coverage on shares of Terex in a research report on Wednesday, June 26th. They set a neutral rating and a $60.00 price objective on the stock. Raymond James started coverage on shares of Terex in a report on Friday, June 28th. They set a market perform rating on the stock. Jefferies Financial Group dropped their price target on shares of Terex from $68.00 to $55.00 and set a hold rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. boosted their price target on Terex from $59.00 to $65.00 and gave the company a neutral rating in a research note on Tuesday, July 23rd. Finally, Robert W. Baird increased their price objective on shares of Terex from $58.00 to $67.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $64.33.

Terex Price Performance

Shares of Terex stock traded down $0.58 on Tuesday, hitting $65.68. 1,520,339 shares of the company traded hands, compared to its average volume of 825,627. The stock has a market capitalization of $4.42 billion, a P/E ratio of 8.70 and a beta of 1.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16. Terex has a 52 week low of $43.70 and a 52 week high of $68.08. The business has a 50-day simple moving average of $57.14 and a 200 day simple moving average of $58.97.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 9th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.04%. Terex’s dividend payout ratio is currently 9.01%.

Insider Activity

In other Terex news, insider Kieran Hegarty sold 17,190 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the transaction, the insider now owns 200,029 shares in the company, valued at $11,653,689.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Scott Posner sold 12,500 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $60.48, for a total value of $756,000.00. Following the sale, the vice president now owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kieran Hegarty sold 17,190 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the completion of the sale, the insider now directly owns 200,029 shares in the company, valued at approximately $11,653,689.54. The disclosure for this sale can be found here. Insiders sold 32,929 shares of company stock valued at $1,958,307 in the last ninety days. Insiders own 1.90% of the company’s stock.

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.