Terex (NYSE:TEX) Releases FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $6.95-7.35 for the period, compared to the consensus EPS 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. Terex also updated its FY 2024 guidance to 6.950-7.350 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEX. Truist Financial began coverage on shares of Terex in a report on Thursday, March 14th. They issued a buy rating and a $73.00 target price for the company. Citigroup increased their target price on shares of Terex from $54.00 to $63.00 and gave the company a neutral rating in a report on Monday, February 12th. The Goldman Sachs Group increased their target price on shares of Terex from $52.00 to $59.00 and gave the company a neutral rating in a report on Tuesday, February 13th. UBS Group cut shares of Terex from a buy rating to a neutral rating and increased their target price for the company from $61.00 to $62.00 in a report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. cut shares of Terex from an overweight rating to a neutral rating and set a $63.00 target price for the company. in a report on Monday, March 18th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $65.08.

Terex Price Performance

Shares of TEX traded down $0.31 during mid-day trading on Friday, reaching $59.59. 2,147,335 shares of the company’s stock were exchanged, compared to its average volume of 754,668. Terex has a 52-week low of $42.50 and a 52-week high of $65.89. The company has a 50-day simple moving average of $60.06 and a two-hundred day simple moving average of $56.28. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 0.59 and a beta of 1.64. The company has a quick ratio of 0.95, a current ratio of 2.01 and a debt-to-equity ratio of 0.37.

Terex (NYSE:TEX) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.23. Terex had a net margin of 9.87% and a return on equity of 31.52%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.23 billion. On average, sell-side analysts predict that Terex will post 6.95 EPS for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 8th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.14%. Terex’s dividend payout ratio (DPR) is currently 9.01%.

Insider Buying and Selling

In other Terex news, insider Kieran Hegarty sold 18,000 shares of Terex stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the transaction, the insider now owns 198,619 shares in the company, valued at approximately $11,281,559.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Terex news, insider Kieran Hegarty sold 18,000 shares of Terex stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the transaction, the insider now owns 198,619 shares in the company, valued at approximately $11,281,559.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John L. Garrison, Jr. sold 50,000 shares of Terex stock in a transaction 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 owns 315,483 shares in the company, valued at approximately $20,279,247.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,039 shares of company stock worth $8,078,574. 1.90% of the stock is owned by 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.