Zacks Research Comments on Terex Co.’s Q3 2024 Earnings (NYSE:TEX)

Terex Co. (NYSE:TEX) – Analysts at Zacks Research raised their Q3 2024 earnings per share estimates for shares of Terex in a research note issued on Thursday, April 18th. Zacks Research analyst M. Das now anticipates that the industrial products company will earn $1.90 per share for the quarter, up from their previous estimate of $1.89. The consensus estimate for Terex’s current full-year earnings is $6.95 per share. Zacks Research also issued estimates for Terex’s FY2024 earnings at $6.93 EPS, Q1 2025 earnings at $1.66 EPS, Q2 2025 earnings at $1.96 EPS, Q3 2025 earnings at $1.79 EPS, Q4 2025 earnings at $1.57 EPS, FY2025 earnings at $6.97 EPS, Q1 2026 earnings at $1.69 EPS and FY2026 earnings at $7.04 EPS.

Terex (NYSE:TEX) last announced its earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. Terex had a return on equity of 32.89% and a net margin of 10.06%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the company earned $1.34 EPS. The business’s revenue was up .4% compared to the same quarter last year.

Several other research analysts have also issued reports on the company. Citigroup increased their target price on Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Truist Financial initiated coverage on Terex in a research report on Thursday, March 14th. They set a “buy” rating and a $73.00 price objective for the company. JPMorgan Chase & Co. lowered Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research report on Monday, March 18th. Bank of America reaffirmed an “underperform” rating and set a $57.00 price objective on shares of Terex in a research report on Friday, January 19th. Finally, The Goldman Sachs Group raised their price objective on Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $65.08.

Terex Stock Up 0.8 %

Shares of NYSE:TEX opened at $60.27 on Friday. Terex has a 52-week low of $42.50 and a 52-week high of $65.89. The firm has a market capitalization of $4.06 billion, a P/E ratio of 7.94, a P/E/G ratio of 0.60 and a beta of 1.64. The stock has a 50 day moving average price of $59.68 and a 200-day moving average price of $56.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.95 and a current ratio of 2.01.

Hedge Funds Weigh In On Terex

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in Terex by 179.0% in the 4th quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 299 shares during the period. Avior Wealth Management LLC raised its holdings in Terex by 440.7% in the 3rd quarter. Avior Wealth Management LLC now owns 492 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 401 shares during the period. McGlone Suttner Wealth Management Inc. bought a new position in Terex in the 4th quarter worth $29,000. FinTrust Capital Advisors LLC bought a new position in Terex in the 3rd quarter worth $31,000. Finally, Quantbot Technologies LP bought a new position in Terex in the 3rd quarter worth $32,000. 92.88% of the stock is owned by institutional investors.

Insider Transactions at Terex

In other news, CEO John L. Garrison, Jr. sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $64.28, for a total value of $3,214,000.00. Following the transaction, the chief executive officer now directly owns 315,483 shares in the company, valued at approximately $20,279,247.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total value of $1,022,400.00. Following the transaction, the insider now directly owns 198,619 shares in the company, valued at approximately $11,281,559.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John L. Garrison, Jr. sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $64.28, for a total value of $3,214,000.00. Following the completion of the transaction, the chief executive officer now owns 315,483 shares in the company, valued at $20,279,247.24. The disclosure for this sale can be found here. Insiders have sold a total of 132,039 shares of company stock worth $8,078,574 in the last ninety days. Insiders own 1.90% of the company’s stock.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.13%. Terex’s dividend payout ratio is 8.96%.

Terex Company Profile

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.