Terex (TEX) to Release Earnings on Wednesday

Terex (NYSE:TEX) will post its quarterly earnings results before the market opens on Wednesday, October 30th. Analysts expect Terex to post earnings of $1.91 per share for the quarter. Terex has set its FY24 guidance at $7.15-7.45 EPS and its FY 2024 guidance at 7.150-7.450 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Terex (NYSE:TEX) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.10. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. Terex’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.35 earnings per share. On average, analysts expect Terex to post $6 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Terex Stock Up 1.5 %

Shares of NYSE:TEX opened at $53.77 on Monday. The firm has a market cap of $3.62 billion, a P/E ratio of 7.12, a P/E/G ratio of 4.49 and a beta of 1.53. Terex has a 12-month low of $43.70 and a 12-month high of $68.08. The business has a fifty day simple moving average of $53.44 and a 200 day simple moving average of $56.36. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36.

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. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. Terex’s dividend payout ratio (DPR) is 9.01%.

Insider Activity

In other news, Director Andra Rush purchased 2,205 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $54.36 per share, with a total value of $119,863.80. Following the purchase, the director now owns 21,983 shares in the company, valued at $1,194,995.88. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TEX has been the subject of a number of recent analyst reports. Citigroup decreased their target price 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. Evercore ISI decreased their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Jefferies Financial Group dropped their target price 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. JPMorgan Chase & Co. decreased their price target on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, Truist Financial dropped their price objective on Terex from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.33.

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.