Terex (NYSE:TEX) Announces Quarterly Earnings Results

Terex (NYSE:TEX) posted its quarterly earnings data on Tuesday. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.06 by $0.10, Briefing.com reports. Terex had a return on equity of 28.71% and a net margin of 9.55%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business earned $2.35 EPS. Terex’s quarterly 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 Price Performance

Shares of NYSE:TEX opened at $63.26 on Thursday. 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 cap of $4.26 billion, a P/E ratio of 8.38 and a beta of 1.57. Terex has a 52 week low of $43.70 and a 52 week high of $68.08. The company has a 50-day moving average price of $57.17 and a 200 day moving average price of $59.00.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 9th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, August 9th. Terex’s dividend payout ratio is currently 9.01%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TEX shares. UBS Group increased their price objective on Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. JPMorgan Chase & Co. increased their price objective on Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Raymond James started coverage on Terex in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Jefferies Financial Group reduced their price objective on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, Citigroup started coverage on Terex in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 price objective on the stock. 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $64.33.

Insider Activity at Terex

In related news, CAO Stephen Johnston sold 3,239 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total value of $200,818.00. Following the completion of the sale, the chief accounting officer now owns 14,606 shares in the company, valued at $905,572. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Scott Posner sold 12,500 shares of Terex stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $60.48, for a total transaction of $756,000.00. Following the completion of the transaction, the vice president now directly owns 58,224 shares in the company, valued at approximately $3,521,387.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen Johnston sold 3,239 shares of Terex stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total value of $200,818.00. Following the transaction, the chief accounting officer now owns 14,606 shares of the company’s stock, valued at $905,572. The disclosure for this sale can be found here. Insiders sold a total of 32,929 shares of company stock worth $1,958,307 over the last 90 days. Company 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.