Terex Co. Expected to Earn FY2023 Earnings of $5.08 Per Share (NYSE:TEX)

Terex Co. (NYSE:TEXGet Rating) – Analysts at KeyCorp lowered their FY2023 earnings per share (EPS) estimates for shares of Terex in a note issued to investors on Sunday, May 1st. KeyCorp analyst S. Barger now expects that the industrial products company will post earnings of $5.08 per share for the year, down from their prior estimate of $5.42.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Terex from $65.00 to $61.00 in a research note on Monday. Wells Fargo & Company began coverage on Terex in a research report on Friday, March 11th. They issued an “overweight” rating and a $64.00 target price for the company. Robert W. Baird lowered Terex from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research report on Friday, April 8th. Morgan Stanley decreased their price objective on Terex from $53.00 to $48.00 and set an “equal weight” rating for the company in a research report on Monday, April 18th. Finally, The Goldman Sachs Group dropped their target price on Terex from $48.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, April 14th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $53.92.

TEX stock opened at $34.69 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.94 and a quick ratio of 1.05. The firm has a market capitalization of $2.43 billion, a P/E ratio of 10.58, a P/E/G ratio of 0.49 and a beta of 1.59. Terex has a 52-week low of $32.11 and a 52-week high of $55.60. The company’s 50 day simple moving average is $36.73 and its 200-day simple moving average is $41.89.

Terex (NYSE:TEXGet Rating) last posted its quarterly earnings data on Thursday, February 10th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.28. Terex had a return on equity of 21.61% and a net margin of 5.78%. The firm had revenue of $990.10 million for the quarter, compared to the consensus estimate of $952.90 million. During the same quarter in the previous year, the company earned $0.21 EPS. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year.

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Terex by 329.6% in the 4th quarter. JPMorgan Chase & Co. now owns 3,570,805 shares of the industrial products company’s stock valued at $156,937,000 after acquiring an additional 2,739,622 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Terex in the third quarter valued at approximately $48,781,000. Norges Bank acquired a new stake in shares of Terex in the fourth quarter worth $38,005,000. BlackRock Inc. lifted its stake in shares of Terex by 6.6% in the fourth quarter. BlackRock Inc. now owns 7,955,556 shares of the industrial products company’s stock worth $349,647,000 after buying an additional 489,129 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its holdings in shares of Terex by 561.7% during the 4th quarter. GW&K Investment Management LLC now owns 573,193 shares of the industrial products company’s stock worth $25,192,000 after buying an additional 486,568 shares during the period. 85.46% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Scott Posner sold 3,853 shares of the stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $36.14, for a total transaction of $139,247.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 21st. Shareholders of record on Wednesday, March 9th were paid 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 dividend on an annualized basis and a yield of 1.50%. Terex’s payout ratio is 15.85%.

About Terex (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.

See Also

Earnings History and Estimates for Terex (NYSE:TEX)

Receive News & Ratings for Terex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex and related companies with MarketBeat.com's FREE daily email newsletter.