Brokers Offer Predictions for Terex Co.'s Q3 2024 Earnings (NYSE:TEX)

Terex Co. (NYSE:TEX - Free Report) - Analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for Terex in a research note issued to investors on Tuesday, October 15th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings per share of $1.18 for the quarter, down from their prior estimate of $1.22. The consensus estimate for Terex's current full-year earnings is $5.88 per share. Zacks Research also issued estimates for Terex's Q4 2024 earnings at $1.00 EPS, FY2024 earnings at $5.95 EPS, Q1 2025 earnings at $1.53 EPS, Q2 2025 earnings at $1.73 EPS, Q3 2025 earnings at $1.16 EPS, Q4 2025 earnings at $1.06 EPS, FY2025 earnings at $5.47 EPS, Q1 2026 earnings at $1.63 EPS, Q2 2026 earnings at $1.83 EPS, Q3 2026 earnings at $1.38 EPS and FY2026 earnings at $6.15 EPS.

Terex (NYSE:TEX - Get Free Report) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. The company had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same period last year, the business earned $2.35 EPS. Terex's revenue for the quarter was down 1.5% on a year-over-year basis.

TEX has been the subject of a number of other research reports. The Goldman Sachs Group lowered their price target on Terex from $72.00 to $62.00 and set a "neutral" rating for the company in a research report on Friday, September 20th. Evercore ISI decreased their target price on Terex from $67.00 to $59.00 and set an "outperform" rating for the company in a report on Monday, August 19th. Raymond James assumed coverage on shares of Terex in a report on Friday, June 28th. They issued a "market perform" rating on the stock. Citigroup decreased their price objective on shares of Terex from $60.00 to $57.00 and set a "neutral" rating for the company in a research note on Monday, September 23rd. Finally, Jefferies Financial Group dropped their price objective on shares of Terex from $68.00 to $55.00 and set a "hold" rating on the stock in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $60.30.

Terex Stock Performance

Shares of NYSE:TEX traded up $0.23 on Wednesday, hitting $55.96. 466,304 shares of the company were exchanged, compared to its average volume of 828,766. The firm has a market capitalization of $3.77 billion, a P/E ratio of 7.41, a price-to-earnings-growth ratio of 4.43 and a beta of 1.53. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. Terex has a 1-year low of $43.70 and a 1-year high of $68.08. The stock's 50 day moving average price is $53.38 and its 200 day moving average price is $56.92.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.22%. Terex's dividend payout ratio is presently 9.01%.

Insider Buying and Selling

In other Terex news, Director Andra Rush acquired 2,205 shares of the company's stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $54.36 per share, with a total value of $119,863.80. Following the completion of the acquisition, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Terex

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company's stock worth $28,000 after buying an additional 187 shares during the last quarter. FinTrust Capital Advisors LLC increased its position in shares of Terex by 202.2% during the first quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company's stock worth $45,000 after purchasing an additional 465 shares in the last quarter. GAMMA Investing LLC raised its stake in Terex by 83.3% in the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 335 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Terex in the 2nd quarter valued at $109,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Terex during the 2nd quarter worth $111,000. Hedge funds and other institutional investors own 92.88% of the company's stock.

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.