Terex Co. (NYSE:TEX) to Post Q2 2024 Earnings of $2.14 Per Share, Zacks Research Forecasts

Terex Co. (NYSE:TEX) – Zacks Research upped their Q2 2024 EPS estimates for shares of Terex in a research note issued on Wednesday, March 27th. Zacks Research analyst M. Das now expects that the industrial products company will earn $2.14 per share for the quarter, up from their prior estimate of $2.12. The consensus estimate for Terex’s current full-year earnings is $6.94 per share. Zacks Research also issued estimates for Terex’s Q3 2024 earnings at $1.89 EPS, Q4 2024 earnings at $1.54 EPS, FY2024 earnings at $6.89 EPS, Q3 2025 earnings at $1.77 EPS, FY2025 earnings at $6.92 EPS and FY2026 earnings at $6.77 EPS.

Several other equities analysts also recently commented on the stock. Citigroup increased their price objective on shares of Terex from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. UBS Group downgraded Terex from a “buy” rating to a “neutral” rating and raised their target price for the stock from $61.00 to $62.00 in a research note on Tuesday, February 13th. Bank of America reaffirmed an “underperform” rating and issued a $57.00 price objective on shares of Terex in a research note on Friday, January 19th. The Goldman Sachs Group boosted their price objective on shares of Terex from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Finally, JPMorgan Chase & Co. downgraded shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Terex currently has a consensus rating of “Hold” and an average price target of $64.21.

Terex Stock Up 3.0 %

TEX opened at $64.53 on Thursday. The stock has a market cap of $4.32 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 0.62 and a beta of 1.62. The company has a current ratio of 2.01, a quick ratio of 0.95 and a debt-to-equity ratio of 0.37. Terex has a 1-year low of $41.89 and a 1-year high of $65.64. The stock’s fifty day simple moving average is $58.88 and its 200 day simple moving average is $55.37.

Terex (NYSE:TEX) last posted its quarterly earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. Terex had a return on equity of 32.89% and a net margin of 10.06%. The firm’s revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $1.34 EPS.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 8th were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.05%. Terex’s payout ratio is 8.96%.

Insider Activity at Terex

In other Terex news, CEO John L. Garrison, Jr. sold 59,094 shares of Terex stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the completion of the transaction, the chief executive officer now owns 380,834 shares in the company, valued at $22,876,698.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Joshua Gross sold 4,945 shares of Terex stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $59.13, for a total value of $292,397.85. Following the transaction, the insider now directly owns 21,457 shares in the company, valued at approximately $1,268,752.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John L. Garrison, Jr. sold 59,094 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the completion of the sale, the chief executive officer now owns 380,834 shares of the company’s stock, valued at approximately $22,876,698.38. The disclosure for this sale can be found here. Insiders have sold 82,039 shares of company stock valued at $4,864,574 in the last ninety days. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Curated Wealth Partners LLC grew its holdings in shares of Terex by 48.1% in the 4th quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock valued at $10,166,000 after buying an additional 57,500 shares during the period. QRG Capital Management Inc. bought a new position in shares of Terex in the 3rd quarter valued at about $294,000. Trexquant Investment LP boosted its position in Terex by 49.2% during the third quarter. Trexquant Investment LP now owns 64,448 shares of the industrial products company’s stock worth $3,713,000 after purchasing an additional 21,257 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in Terex in the 3rd quarter valued at $302,000. Finally, BlackRock Inc. increased its position in Terex by 2.3% during the second quarter. BlackRock Inc. now owns 9,052,238 shares of the industrial products company’s stock worth $541,595,000 after acquiring an additional 205,591 shares during the period. Institutional investors own 92.88% 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.