Zacks Research Analysts Boost Earnings Estimates for Terex Co. (NYSE:TEX)

Terex Co. (NYSE:TEX) – Research analysts at Zacks Research increased their Q2 2024 earnings per share estimates for Terex in a report issued on Friday, September 15th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings per share of $1.87 for the quarter, up from their previous forecast of $1.86. The consensus estimate for Terex’s current full-year earnings is $7.09 per share. Zacks Research also issued estimates for Terex’s FY2024 earnings at $6.66 EPS, Q2 2025 earnings at $1.87 EPS and FY2025 earnings at $6.70 EPS.

Terex (NYSE:TEX) last released its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.69. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.27 billion. Terex had a return on equity of 35.91% and a net margin of 8.96%. Terex’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS.

A number of other analysts have also issued reports on TEX. Citigroup raised their target price on Terex from $52.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, July 18th. KeyCorp boosted their price target on Terex from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Robert W. Baird boosted their price target on Terex from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company boosted their price target on Terex from $66.00 to $74.00 in a research note on Thursday, August 3rd. Finally, Raymond James initiated coverage on Terex in a research report on Thursday, July 6th. They issued a “market perform” rating for the company. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Terex currently has a consensus rating of “Hold” and a consensus price target of $61.58.

Terex Stock Down 1.2 %

Shares of TEX stock opened at $58.47 on Monday. The stock’s 50 day simple moving average is $60.07 and its 200 day simple moving average is $53.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 2.07. Terex has a twelve month low of $28.82 and a twelve month high of $65.64. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 0.46 and a beta of 1.68.

Terex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Monday, August 14th will be paid a $0.17 dividend. This is a positive change from Terex’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.68 annualized dividend and a yield of 1.16%. Terex’s dividend payout ratio is currently 10.43%.

Insider Buying and Selling at Terex

In other news, CEO John L. Garrison, Jr. sold 9,966 shares of the stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $60.00, for a total transaction of $597,960.00. Following the transaction, the chief executive officer now owns 535,331 shares in the company, valued at $32,119,860. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Terex

Large investors have recently modified their holdings of the business. Macquarie Group Ltd. acquired a new stake in shares of Terex during the 1st quarter valued at $61,361,000. Greenhaven Associates Inc. acquired a new position in shares of Terex in the 2nd quarter valued at about $44,215,000. Victory Capital Management Inc. lifted its stake in shares of Terex by 2,821.9% in the 1st quarter. Victory Capital Management Inc. now owns 739,514 shares of the industrial products company’s stock valued at $35,778,000 after purchasing an additional 714,205 shares during the period. Norges Bank acquired a new position in shares of Terex in the 4th quarter valued at about $30,229,000. Finally, FMR LLC lifted its stake in shares of Terex by 32.4% in the 1st quarter. FMR LLC now owns 1,974,430 shares of the industrial products company’s stock valued at $95,523,000 after purchasing an additional 482,695 shares during the period. Institutional investors and hedge funds own 93.39% 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, 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.