Terex (NYSE:TEX) Updates FY 2022 Earnings Guidance

Terex (NYSE:TEXGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $3.80-$4.20 for the period, compared to the consensus EPS estimate of $3.73. The company issued revenue guidance of $4.10 billion-$4.30 billion, compared to the consensus revenue estimate of $4.23 billion. Terex also updated its FY22 guidance to $3.80-4.20 EPS.

Terex Stock Performance

Shares of TEX traded down $0.39 on Friday, reaching $34.11. 472,138 shares of the stock traded hands, compared to its average volume of 738,871. Terex has a 12 month low of $26.64 and a 12 month high of $53.82. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.00 and a quick ratio of 0.99. The stock’s 50-day moving average price is $31.22 and its 200-day moving average price is $35.39. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 0.53 and a beta of 1.62.

Terex (NYSE:TEXGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.20. Terex had a net margin of 5.73% and a return on equity of 21.46%. During the same period last year, the firm earned $1.02 earnings per share. Equities analysts forecast that Terex will post 3.84 EPS for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Friday, August 12th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, August 11th. Terex’s dividend payout ratio is 15.71%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TEX shares. The Goldman Sachs Group upped their price target on Terex from $33.00 to $37.00 and gave the company a neutral rating in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on Terex from $57.00 to $35.00 and set an overweight rating on the stock in a research report on Tuesday, July 12th. Morgan Stanley lowered their price target on Terex from $42.00 to $30.00 and set an equal weight rating on the stock in a research report on Monday, July 18th. KeyCorp lowered their price target on Terex from $54.00 to $44.00 and set an overweight rating on the stock in a research report on Tuesday, July 12th. Finally, Citigroup increased their target price on Terex from $35.00 to $40.00 in a report on Thursday. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $45.50.

Insider Activity

In other news, VP Scott Posner sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $33.96, for a total transaction of $67,920.00. Following the transaction, the vice president now owns 64,621 shares of the company’s stock, valued at $2,194,529.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Terex

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in Terex by 16.0% in the first quarter. Bank of America Corp DE now owns 437,235 shares of the industrial products company’s stock valued at $15,591,000 after buying an additional 60,191 shares during the period. Advisors Asset Management Inc. raised its position in shares of Terex by 12.4% during the first quarter. Advisors Asset Management Inc. now owns 23,580 shares of the industrial products company’s stock worth $841,000 after purchasing an additional 2,595 shares during the period. Point72 Hong Kong Ltd raised its position in shares of Terex by 318.5% during the first quarter. Point72 Hong Kong Ltd now owns 6,453 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 4,911 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Terex during the first quarter worth about $60,000. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Terex by 45.5% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,740 shares of the industrial products company’s stock worth $917,000 after purchasing an additional 8,054 shares during the period. Institutional investors and hedge funds own 85.46% of the company’s stock.

About Terex

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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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