Terex (NYSE:TEX) Releases FY24 Earnings Guidance

Terex (NYSE:TEX - Get Free Report) 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.

Terex Trading Down 5.0 %

Shares of NYSE:TEX traded down $2.74 during midday trading on Wednesday, hitting $51.52. The company had a trading volume of 1,626,244 shares, compared to its average volume of 824,956. Terex has a 12 month low of $44.38 and a 12 month high of $68.08. The firm has a fifty day simple moving average of $53.47 and a 200 day simple moving average of $56.24. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 4.47 and a beta of 1.53.

Terex (NYSE:TEX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.06 by $0.10. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm's revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.35 EPS. On average, analysts predict that Terex will post 5.89 EPS for the current year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, November 8th. Terex's dividend payout ratio is 9.33%.

Analyst Upgrades and Downgrades

TEX has been the topic of several research reports. Robert W. Baird boosted their target price on Terex from $63.00 to $65.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Jefferies Financial Group reduced their price target on Terex from $68.00 to $55.00 and set a "hold" rating for the company in a research report on Thursday, July 11th. Citigroup cut their price objective on Terex from $60.00 to $57.00 and set a "neutral" rating for the company in a report on Monday, September 23rd. The Goldman Sachs Group dropped their price target on shares of Terex from $72.00 to $62.00 and set a "neutral" rating on the stock in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.33.

Insider Buying and Selling at Terex

In related news, Director Andra Rush bought 2,205 shares of the business's stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the transaction, the director now owns 21,983 shares in the company, valued at $1,194,995.88. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company's stock.

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.