Terex (NYSE:TEX) Posts Earnings Results, Beats Expectations By $0.19 EPS

Terex (NYSE:TEXGet Free Report) posted its quarterly earnings results on Wednesday. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.19, Briefing.com reports. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.75 earnings per share. Terex updated its FY24 guidance to $5.85-6.25 EPS.

Terex Price Performance

NYSE:TEX remained flat at $51.53 during trading hours on Thursday. The company’s stock had a trading volume of 412,390 shares, compared to its average volume of 824,011. 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 business has a 50 day simple moving average of $53.41 and a 200-day simple moving average of $56.20. Terex has a 52-week low of $44.38 and a 52-week high of $68.08. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 7.07, a PEG ratio of 4.47 and a beta of 1.53.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. Terex’s dividend payout ratio (DPR) is presently 9.33%.

Analyst Ratings Changes

A number of analysts recently weighed in on TEX shares. Jefferies Financial Group dropped their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Citigroup decreased their price objective 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. Robert W. Baird reduced their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday. Truist Financial lowered their target price on shares of Terex from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Terex currently has an average rating of “Hold” and a consensus target price of $59.22.

Check Out Our Latest Stock Analysis on TEX

Insider Buying and Selling at Terex

In other Terex news, Director Andra Rush bought 2,205 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $54.36 per share, with a total value of $119,863.80. Following the acquisition, the director now owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

Terex Company Profile

(Get Free Report)

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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Earnings History for Terex (NYSE:TEX)

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