Terex (NYSE:TEX – Get Free Report) announced its earnings results on Tuesday. The industrial products company reported $2.16 EPS for the quarter, beating the consensus estimate of $2.06 by $0.10, Briefing.com reports. Terex had a return on equity of 30.53% and a net margin of 9.87%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the business posted $2.35 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. Terex updated its FY24 guidance to $7.15-7.45 EPS and its FY 2024 guidance to 7.150-7.450 EPS.
Terex Stock Performance
TEX traded down $2.44 during trading hours on Wednesday, hitting $63.26. The stock had a trading volume of 2,440,693 shares, compared to its average volume of 836,724. The company’s fifty day simple moving average is $57.17 and its 200 day simple moving average is $59.00. Terex has a 1 year low of $43.70 and a 1 year high of $68.08. The stock has a market cap of $4.26 billion, a PE ratio of 8.38 and a beta of 1.57. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42.
Terex Dividend Announcement
The firm 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 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, August 9th. Terex’s dividend payout ratio is presently 9.01%.
Insider Buying and Selling
Wall Street Analyst Weigh In
Several analysts recently commented on TEX shares. Raymond James started coverage on Terex in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Citigroup started coverage on Terex in a report on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 target price on the stock. Jefferies Financial Group cut their target price on 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. increased their target price on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Truist Financial lowered their price target on Terex from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $64.33.
View Our Latest Analysis on TEX
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.
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