Terex (NYSE:TEX) Updates FY22 Earnings Guidance

Terex (NYSE:TEXGet Rating) updated its FY22 earnings guidance on Thursday. The company provided EPS guidance of $3.55-4.05 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.83.

Several research firms recently weighed in on TEX. The Goldman Sachs Group cut their price target on shares of Terex from $48.00 to $41.00 and set a neutral rating on the stock in a report on Thursday, April 14th. Wells Fargo & Company initiated coverage on shares of Terex in a research report on Friday, March 11th. They set an overweight rating and a $64.00 price target on the stock. Robert W. Baird lowered shares of Terex from an outperform rating to a neutral rating and set a $44.00 price objective for the company. in a report on Friday, April 8th. StockNews.com started coverage on Terex in a report on Thursday, March 31st. They set a hold rating on the stock. Finally, Morgan Stanley lowered their target price on Terex from $53.00 to $48.00 and set an equal weight rating for the company in a research note on Monday, April 18th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $54.25.

TEX stock traded down $0.50 on Friday, reaching $34.00. 1,442,554 shares of the company traded hands, compared to its average volume of 810,143. The firm has a fifty day simple moving average of $36.85 and a 200-day simple moving average of $41.93. The company has a market cap of $2.38 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 0.49 and a beta of 1.59. Terex has a one year low of $32.11 and a one year high of $55.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.94 and a quick ratio of 1.05.

Terex (NYSE:TEXGet Rating) last issued its quarterly earnings results on Thursday, February 10th. The industrial products company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.28. The firm had revenue of $990.10 million during the quarter, compared to the consensus estimate of $952.90 million. Terex had a return on equity of 21.01% and a net margin of 5.68%. The company’s revenue was up 25.9% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. On average, sell-side analysts forecast that Terex will post 3.87 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 21st. Shareholders of record on Wednesday, March 9th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, March 8th. This is a boost from Terex’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.53%. Terex’s payout ratio is 15.85%.

In related news, VP Scott Posner sold 3,853 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $36.14, for a total value of $139,247.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.90% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Cetera Investment Advisers purchased a new stake in shares of Terex during the 4th quarter valued at about $219,000. Janus Henderson Group PLC bought a new position in Terex during the third quarter valued at approximately $248,000. LPL Financial LLC purchased a new stake in Terex in the third quarter worth approximately $489,000. Glenmede Trust Co. NA boosted its holdings in Terex by 41.0% in the fourth quarter. Glenmede Trust Co. NA now owns 19,569 shares of the industrial products company’s stock worth $860,000 after purchasing an additional 5,690 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Terex by 47.5% in the 4th quarter. Advisors Asset Management Inc. now owns 20,985 shares of the industrial products company’s stock worth $922,000 after purchasing an additional 6,755 shares during the period. 85.80% of the stock is owned by institutional investors and hedge funds.

Terex Company Profile (Get Rating)

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment designs, manufactures, services, and markets aerial work platform equipment, utility equipment, and telehandlers under the Terex and Genie brands.

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Earnings History and Estimates for Terex (NYSE:TEX)

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