Zacks Research Comments on Terex Co.’s Q3 2024 Earnings (NYSE:TEX)

Terex Co. (NYSE:TEX) – Investment analysts at Zacks Research increased their Q3 2024 earnings per share estimates for Terex in a report released on Thursday, April 18th. Zacks Research analyst M. Das now expects that the industrial products company will earn $1.90 per share for the quarter, up from their previous estimate of $1.89. The consensus estimate for Terex’s current full-year earnings is $6.95 per share. Zacks Research also issued estimates for Terex’s FY2024 earnings at $6.93 EPS, Q1 2025 earnings at $1.66 EPS, Q2 2025 earnings at $1.96 EPS, Q3 2025 earnings at $1.79 EPS, Q4 2025 earnings at $1.57 EPS, FY2025 earnings at $6.97 EPS, Q1 2026 earnings at $1.69 EPS and FY2026 earnings at $7.04 EPS.

TEX has been the topic of several other research reports. JPMorgan Chase & Co. lowered Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price on the stock. in a research report on Monday, March 18th. Citigroup increased their price target on Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. The Goldman Sachs Group increased their price target on Terex from $52.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. Evercore ISI cut their price target on Terex from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Tuesday, February 20th. Finally, UBS Group lowered Terex from a “buy” rating to a “neutral” rating and increased their price target for the stock from $61.00 to $62.00 in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $65.08.

Terex Stock Up 0.8 %

Shares of Terex stock opened at $60.27 on Friday. Terex has a one year low of $42.50 and a one year high of $65.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 0.95. The stock’s 50-day moving average is $59.68 and its 200 day moving average is $56.03. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 0.60 and a beta of 1.64.

Terex (NYSE:TEX) last announced its earnings results on Friday, February 9th. The industrial products company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. Terex had a return on equity of 32.89% and a net margin of 10.06%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the company earned $1.34 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.13%. Terex’s dividend payout ratio is presently 8.96%.

Insider Activity

In related news, CEO John L. Garrison, Jr. sold 50,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $64.28, for a total transaction of $3,214,000.00. Following the completion of the sale, the chief executive officer now directly owns 315,483 shares of the company’s stock, valued at $20,279,247.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO John L. Garrison, Jr. sold 59,094 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $22,876,698.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $3,214,000.00. Following the sale, the chief executive officer now directly owns 315,483 shares of the company’s stock, valued at $20,279,247.24. The disclosure for this sale can be found here. Insiders have sold 132,039 shares of company stock worth $8,078,574 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Terex

Institutional investors and hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. purchased a new stake in Terex in the first quarter worth $61,361,000. Norges Bank purchased a new stake in Terex in the fourth quarter worth $42,606,000. Greenhaven Associates Inc. increased its position in Terex by 101.5% in the fourth quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock worth $83,702,000 after buying an additional 733,690 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Terex in the third quarter worth $36,672,000. Finally, Renaissance Technologies LLC increased its position in Terex by 110.8% in the first quarter. Renaissance Technologies LLC now owns 833,600 shares of the industrial products company’s stock worth $29,726,000 after buying an additional 438,200 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

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.