Terex (NYSE:TEX) Releases FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.15-7.45 for the period, compared to the consensus earnings per share 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.

Terex Stock Performance

Shares of Terex stock traded down $3.81 on Friday, reaching $54.92. 304,063 shares of the stock were exchanged, compared to its average volume of 835,507. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $3.70 billion, a PE ratio of 7.77 and a beta of 1.57. Terex has a 1-year low of $43.70 and a 1-year high of $68.08. The business has a fifty day moving average price of $57.14 and a two-hundred day moving average price of $59.00.

Terex (NYSE:TEX) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. Terex had a return on equity of 28.71% and a net margin of 9.55%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business posted $2.35 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, research analysts anticipate that Terex will post 7.26 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, August 9th. Terex’s dividend payout ratio (DPR) is 9.01%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TEX shares. UBS Group lifted their target price on shares of Terex from $62.00 to $64.00 and gave the stock a neutral rating in a research report on Tuesday, May 21st. Truist Financial upped their target price on Terex from $68.00 to $74.00 and gave the company a buy rating in a research note on Thursday. Raymond James began coverage on Terex in a research report on Friday, June 28th. They set a market perform rating for the company. Citigroup started coverage on Terex in a research report on Wednesday, June 26th. They set a neutral rating and a $60.00 price objective for the company. Finally, The Goldman Sachs Group upped their target price on shares of Terex from $64.00 to $72.00 and gave the company a neutral rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Terex has a consensus rating of Hold and an average target price of $65.92.

Insider Buying and Selling

In other news, VP Scott Posner sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the transaction, the vice president now directly owns 58,224 shares in the company, valued at approximately $3,521,387.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, 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 value of $200,818.00. Following the completion of the sale, the chief accounting officer now owns 14,606 shares in the company, valued at $905,572. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott Posner sold 12,500 shares of the company’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 completion of the transaction, the vice president now owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The disclosure for this sale can be found here. Corporate 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.