Terex (NYSE:TEX) Issues 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 Analyst Weigh In

A number of research analysts recently commented on TEX shares. The Goldman Sachs Group upped their price objective on Terex from $52.00 to $59.00 and gave the stock a neutral rating in a research note on Tuesday, February 13th. Truist Financial started coverage on shares of Terex in a research report on Thursday, March 14th. They issued a buy rating and a $73.00 price objective on the stock. Bank of America restated an underperform rating and issued a $57.00 target price on shares of Terex in a research report on Friday, January 19th. JPMorgan Chase & Co. cut Terex from an overweight rating to a neutral rating and set a $63.00 price target on the stock. in a report on Monday, March 18th. Finally, UBS Group downgraded Terex from a buy rating to a neutral rating and boosted their price objective for the stock from $61.00 to $62.00 in a research report on Tuesday, February 13th. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $65.08.

Terex Price Performance

NYSE TEX traded down $0.31 on Friday, reaching $59.59. The company’s stock had a trading volume of 2,147,335 shares, compared to its average volume of 754,668. The firm’s 50 day moving average is $60.06 and its two-hundred day moving average is $56.28. The stock has a market cap of $4.01 billion, a PE ratio of 7.89, a PEG ratio of 0.59 and a beta of 1.64. 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 earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.23. The firm 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 31.52%. As a group, sell-side analysts predict that Terex will post 6.95 EPS for the current year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 8th were paid a $0.17 dividend. The ex-dividend date of this dividend 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 is currently 9.01%.

Insider Buying and Selling at Terex

In related news, CEO John L. Garrison, Jr. sold 59,094 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total value of $3,549,776.58. Following the completion of the transaction, the chief executive officer now owns 380,834 shares of the company’s stock, valued at approximately $22,876,698.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Terex news, CEO John L. Garrison, Jr. sold 59,094 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the completion of the sale, the chief executive officer now directly owns 380,834 shares in the company, valued at approximately $22,876,698.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John L. Garrison, Jr. sold 50,000 shares of Terex stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $64.28, for a total value of $3,214,000.00. Following the transaction, the chief executive officer now directly 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 ninety days, insiders sold 132,039 shares of company stock valued at $8,078,574. 1.90% of the stock is currently owned by corporate 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.