Terex (NYSE:TEX) Updates FY24 Earnings Guidance

by · The Markets Daily

Terex (NYSE:TEX – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. 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 Price Performance

TEX traded down $0.30 during trading on Friday, hitting $51.41. 592,733 shares of the company traded hands, compared to its average volume of 825,405. The company has a market cap of $3.44 billion, a PE ratio of 7.51, a P/E/G ratio of 4.26 and a beta of 1.53. The stock’s 50-day simple moving average is $53.29 and its two-hundred day simple moving average is $56.09. Terex has a 1 year low of $46.94 and a 1 year high of $68.08. The company has a current ratio of 2.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX – Get Free Report) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.19. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. Terex’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the company posted $1.75 earnings per share. As a group, sell-side analysts anticipate that Terex will post 5.92 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.17 per share. 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 currently 9.93%.

Wall Street Analysts Forecast Growth

TEX has been the subject of several research reports. Truist Financial lowered their price objective on shares of Terex from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Jefferies Financial Group lowered their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. The Goldman Sachs Group lowered their price objective on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Robert W. Baird lowered their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Citigroup lowered their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $59.22.

View Our Latest Report on Terex

About Terex

(Get Free Report)

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.

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