Terex (NYSE:TEX) Releases FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $5.85-6.25 for the period, compared to the consensus earnings per share estimate of $6.11. The company issued revenue guidance of $5.0-5.2 billion, compared to the consensus revenue estimate of $4.98 billion.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Truist Financial decreased their target price on shares of Terex from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Evercore ISI reduced their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Citigroup reduced their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Jefferies Financial Group reduced their price objective on Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group reduced their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Terex has a consensus rating of “Hold” and an average target price of $59.22.

Terex Stock Down 0.6 %

TEX stock traded down $0.30 during trading on Friday, hitting $51.41. 592,733 shares of the company’s stock traded hands, compared to its average volume of 825,405. The firm has a market capitalization of $3.44 billion, a P/E ratio of 7.51, a PEG ratio of 4.26 and a beta of 1.53. The business has a fifty day simple moving average of $53.29 and a two-hundred day simple moving average of $56.09. The company has a quick ratio of 1.07, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. Terex has a 1 year low of $46.94 and a 1 year high of $68.08.

Terex (NYSE:TEX) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.19. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. Terex’s revenue was down 6.0% compared to the same quarter last year. During the same period last year, the company posted $1.75 earnings per share. Sell-side analysts anticipate that Terex will post 5.92 EPS for the current year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be paid a $0.17 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 1.32%. Terex’s dividend payout ratio (DPR) is 9.93%.

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.