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

Terex Co. (NYSE:TEX) – Zacks Research increased their Q1 2024 earnings per share estimates for Terex in a research report issued on Thursday, April 18th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $1.34 for the quarter, up from their prior estimate of $1.32. The consensus estimate for Terex’s current full-year earnings is $6.96 per share.

TEX has been the topic of a number of other reports. Bank of America reissued an “underperform” rating and set a $57.00 price target on shares of Terex in a report on Friday, January 19th. UBS Group lowered Terex from a “buy” rating to a “neutral” rating and raised their price target for the company from $61.00 to $62.00 in a report on Tuesday, February 13th. Truist Financial began coverage on Terex in a report on Thursday, March 14th. They set a “buy” rating and a $73.00 price target on the stock. JPMorgan Chase & Co. lowered Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price on the stock. in a report on Monday, March 18th. Finally, Citigroup lifted their target price on Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Terex currently has an average rating of “Hold” and an average price target of $65.08.

Terex Price Performance

Shares of TEX opened at $60.25 on Monday. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 7.94, a price-to-earnings-growth ratio of 0.60 and a beta of 1.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.95 and a current ratio of 2.01. Terex has a one year low of $42.50 and a one year high of $65.89. The stock’s fifty day moving average is $59.68 and its 200-day moving average is $56.06.

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

Institutional Investors Weigh In On Terex

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Terex by 5.3% during the 1st quarter. BlackRock Inc. now owns 8,373,481 shares of the industrial products company’s stock worth $298,598,000 after acquiring an additional 417,925 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Terex by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 7,767,160 shares of the industrial products company’s stock valued at $276,978,000 after buying an additional 68,739 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Terex by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,766,649 shares of the industrial products company’s stock valued at $98,664,000 after buying an additional 23,768 shares during the last quarter. FMR LLC lifted its holdings in shares of Terex by 3.9% during the 3rd quarter. FMR LLC now owns 2,691,767 shares of the industrial products company’s stock valued at $155,100,000 after buying an additional 102,193 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Terex by 0.3% during the 2nd quarter. State Street Corp now owns 2,340,626 shares of the industrial products company’s stock valued at $140,040,000 after buying an additional 6,357 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Terex news, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the completion of the sale, the insider now directly owns 198,619 shares in the company, valued at approximately $11,281,559.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Terex news, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the completion of the sale, the insider now directly owns 198,619 shares in the company, valued at approximately $11,281,559.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joshua Gross sold 4,945 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $59.13, for a total value of $292,397.85. Following the sale, the insider now owns 21,457 shares of the company’s stock, valued at $1,268,752.41. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,039 shares of company stock valued at $8,078,574. 1.90% of the stock is owned by corporate insiders.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 8th were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.13%. Terex’s dividend payout ratio is currently 8.96%.

About Terex

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.