Terex (NYSE:TEX) Announces Quarterly Earnings Results

Terex (NYSE:TEX) posted its earnings results on Wednesday. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.19, Briefing.com reports. Terex had a net margin of 9.55% and a return on equity of 27.89%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business posted $1.75 earnings per share. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. Terex updated its FY24 guidance to $5.85-6.25 EPS.

Terex Stock Performance

Shares of NYSE TEX traded up $0.08 during mid-day trading on Thursday, reaching $51.61. 385,030 shares of the company were exchanged, compared to its average volume of 823,753. The company’s 50-day simple moving average is $53.41 and its 200-day simple moving average is $56.20. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $3.45 billion, a P/E ratio of 7.07, a P/E/G ratio of 4.47 and a beta of 1.53. Terex has a twelve month low of $44.38 and a twelve month high of $68.08.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th 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 1.32%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s payout ratio is presently 9.33%.

Analyst Ratings Changes

Several equities analysts recently issued reports on TEX shares. Jefferies Financial Group decreased their price objective on Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Citigroup decreased their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Evercore ISI reduced their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Robert W. Baird lowered their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group reduced their price target on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $59.22.

Insider Transactions at Terex

In other Terex news, Director Andra Rush bought 2,205 shares of Terex stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $54.36 per share, with a total value of $119,863.80. Following the completion of the transaction, the director now owns 21,983 shares in the company, valued at $1,194,995.88. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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.