Q1 2024 EPS Estimates for Terex Co. (NYSE:TEX) Cut by Analyst

Terex Co. (NYSE:TEXFree Report) – Equities researchers at KeyCorp decreased their Q1 2024 earnings per share estimates for shares of Terex in a research note issued to investors on Sunday, October 29th. KeyCorp analyst S. Barger now anticipates that the industrial products company will post earnings per share of $1.62 for the quarter, down from their previous estimate of $1.79. KeyCorp currently has a “Overweight” rating and a $80.00 price target on the stock. The consensus estimate for Terex’s current full-year earnings is $7.10 per share. KeyCorp also issued estimates for Terex’s Q4 2024 earnings at $1.69 EPS.

Terex (NYSE:TEXGet Free Report) last issued its earnings results on Friday, October 27th. The industrial products company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.08. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.26 billion. Terex had a return on equity of 35.61% and a net margin of 9.39%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS.

Several other analysts also recently issued reports on the company. Citigroup lowered their price target on Terex from $63.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, October 13th. Robert W. Baird increased their price target on Terex from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Bank of America lowered their price target on Terex from $64.00 to $58.00 in a report on Wednesday, October 11th. Barclays lowered their price target on Terex from $66.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, October 18th. Finally, StockNews.com downgraded Terex from a “buy” rating to a “hold” rating in a report on Monday. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.00.

Read Our Latest Analysis on TEX

Terex Trading Up 2.3 %

Shares of TEX opened at $46.85 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.15 billion, a P/E ratio of 6.63, a price-to-earnings-growth ratio of 0.39 and a beta of 1.67. The stock’s fifty day simple moving average is $55.04 and its 200 day simple moving average is $54.74. Terex has a twelve month low of $37.27 and a twelve month high of $65.64.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Thursday, November 9th will be paid a dividend of $0.17 per share. The ex-dividend date is Wednesday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.45%. Terex’s dividend payout ratio is presently 9.62%.

Insider Activity

In other news, Director Andra Rush purchased 1,130 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was acquired at an average cost of $44.31 per share, for a total transaction of $50,070.30. Following the completion of the purchase, the director now owns 19,775 shares of the company’s stock, valued at $876,230.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Terex

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in Terex by 258.1% in the second quarter. Pacer Advisors Inc. now owns 11,900 shares of the industrial products company’s stock worth $712,000 after purchasing an additional 8,577 shares in the last quarter. Strs Ohio grew its stake in Terex by 812.0% in the first quarter. Strs Ohio now owns 22,800 shares of the industrial products company’s stock worth $1,103,000 after purchasing an additional 20,300 shares in the last quarter. First National Trust Co acquired a new position in Terex in the first quarter worth about $581,000. Victory Capital Management Inc. grew its stake in Terex by 2,821.9% in the first quarter. Victory Capital Management Inc. now owns 739,514 shares of the industrial products company’s stock worth $35,778,000 after purchasing an additional 714,205 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Terex in the second quarter worth about $2,955,000. 93.39% of the stock is currently owned by institutional investors and hedge funds.

About Terex

(Get Free Report)

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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