Terex (NYSE:TEX) Issues FY24 Earnings Guidance

Terex (NYSE:TEX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $7.15-7.45 for the period, compared to the consensus estimate of $7.10. The company issued revenue guidance of $5.10-5.30 billion, compared to the consensus revenue estimate of $5.26 billion. Terex also updated its FY 2024 guidance to 7.150-7.450 EPS.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Terex from $59.00 to $65.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. Jefferies Financial Group decreased their price target on Terex from $68.00 to $55.00 and set a hold rating on the stock in a research note on Thursday, July 11th. UBS Group raised their target price on shares of Terex from $62.00 to $64.00 and gave the stock a neutral rating in a research report on Tuesday, May 21st. Robert W. Baird boosted their target price on shares of Terex from $58.00 to $67.00 and gave the company a neutral rating in a report on Monday, July 22nd. Finally, Truist Financial lowered their target price on shares of Terex from $73.00 to $68.00 and set a buy rating for the company in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $64.33.

Terex Stock Down 0.9 %

Shares of NYSE TEX traded down $0.58 during trading on Tuesday, reaching $65.68. 1,520,339 shares of the stock were exchanged, compared to its average volume of 825,627. The business’s 50-day moving average price is $57.14 and its 200 day moving average price is $58.97. Terex has a twelve month low of $43.70 and a twelve month high of $68.08. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 8.70 and a beta of 1.57.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.04%. Terex’s payout ratio is currently 9.01%.

Insider Transactions at Terex

In other news, CAO Stephen Johnston sold 3,239 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total transaction of $200,818.00. Following the transaction, the chief accounting officer now directly owns 14,606 shares of the company’s stock, valued at $905,572. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total value of $200,818.00. Following the sale, the chief accounting officer now directly owns 14,606 shares of the company’s stock, valued at $905,572. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott Posner sold 12,500 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $60.48, for a total transaction of $756,000.00. Following the completion of the sale, the vice president now directly owns 58,224 shares in the company, valued at $3,521,387.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,929 shares of company stock valued at $1,958,307. Corporate insiders own 1.90% 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.