Terex (NYSE:TEX) Releases 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 (EPS) guidance of 6.950-7.350 for the period, compared to the consensus estimate of 6.980. The company issued revenue guidance of $5.2 billion-$5.4 billion, compared to the consensus revenue estimate of $5.2 billion. Terex also updated its FY24 guidance to $6.95-7.35 EPS.

Terex Trading Down 1.3 %

Shares of NYSE:TEX traded down $0.81 during mid-day trading on Thursday, reaching $59.83. 1,956,587 shares of the company’s stock were exchanged, compared to its average volume of 729,012. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 0.61 and a beta of 1.64. The business’s fifty day moving average price is $59.91 and its 200-day moving average price is $56.21. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.95 and a current ratio of 2.01. Terex has a twelve month low of $42.50 and a twelve month high of $65.89.

Terex (NYSE:TEX) last issued its quarterly earnings results on Friday, February 9th. The industrial products company reported $1.41 EPS for the quarter, hitting analysts’ consensus estimates of $1.41. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. Terex had a net margin of 10.06% and a return on equity of 32.89%. Terex’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.34 earnings per share. On average, research analysts predict that Terex will post 6.95 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 8th were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.14%. Terex’s payout ratio is 8.96%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEX. JPMorgan Chase & Co. lowered shares of Terex from an overweight rating to a neutral rating and set a $63.00 target price on the stock. in a report on Monday, March 18th. Bank of America restated an underperform rating and issued a $57.00 target price on shares of Terex in a report on Friday, January 19th. Truist Financial began coverage on shares of Terex in a report on Thursday, March 14th. They set a buy rating and a $73.00 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of Terex from $52.00 to $59.00 and gave the company a neutral rating in a report on Tuesday, February 13th. Finally, Evercore ISI dropped their price objective on shares of Terex from $65.00 to $63.00 and set an outperform rating on the stock in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $65.08.

Insiders Place Their Bets

In other Terex news, insider Joshua Gross sold 4,945 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total value of $292,397.85. Following the completion of the sale, the insider now directly owns 21,457 shares of the company’s stock, valued at approximately $1,268,752.41. 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 that occurred on 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 completion of the transaction, the chief executive officer now directly owns 315,483 shares of the company’s stock, valued at approximately $20,279,247.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joshua Gross sold 4,945 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total transaction of $292,397.85. Following the transaction, the insider now directly owns 21,457 shares of the company’s stock, valued at $1,268,752.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,039 shares of company stock valued at $8,078,574. Corporate 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.