Q2 2024 EPS Estimates for Terex Co. (NYSE:TEX) Boosted by Analyst

Terex Co. (NYSE:TEX) – Stock analysts at Zacks Research upped their Q2 2024 earnings per share estimates for shares of Terex in a report issued on Wednesday, March 27th. Zacks Research analyst M. Das now expects that the industrial products company will earn $2.14 per share for the quarter, up from their previous forecast of $2.12. The consensus estimate for Terex’s current full-year earnings is $6.94 per share. Zacks Research also issued estimates for Terex’s Q3 2024 earnings at $1.89 EPS, Q4 2024 earnings at $1.54 EPS, FY2024 earnings at $6.89 EPS, Q3 2025 earnings at $1.77 EPS, FY2025 earnings at $6.92 EPS and FY2026 earnings at $6.77 EPS.

TEX has been the topic of a number of other research reports. Jefferies Financial Group downgraded shares of Terex from a “buy” rating to a “hold” rating and cut their price target for the company from $73.00 to $63.00 in a report on Wednesday, December 20th. UBS Group lowered Terex from a “buy” rating to a “neutral” rating and raised their price target for the stock from $61.00 to $62.00 in a research report on Tuesday, February 13th. Truist Financial began coverage on shares of Terex in a research report on Thursday, March 14th. They set a “buy” rating and a $73.00 price objective for the company. Citigroup increased their price target on shares of Terex from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, The Goldman Sachs Group upped their price objective on Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $64.21.

Terex Stock Performance

TEX stock opened at $64.53 on Thursday. Terex has a 12-month low of $41.89 and a 12-month high of $65.64. The company has a current ratio of 2.01, a quick ratio of 0.95 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $58.88 and its 200 day simple moving average is $55.37. The firm has a market cap of $4.32 billion, a P/E ratio of 8.50, a P/E/G ratio of 0.62 and a beta of 1.62.

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

Terex Dividend Announcement

The business 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. This represents a $0.68 annualized dividend and a yield of 1.05%. The ex-dividend date was Thursday, March 7th. Terex’s dividend payout ratio (DPR) is presently 8.96%.

Insider Activity

In related 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 transaction, the insider now owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Joshua Gross sold 4,945 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total value of $292,397.85. Following the transaction, the insider now directly owns 21,457 shares in the company, valued at approximately $1,268,752.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction that occurred 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 owns 198,619 shares of the company’s stock, valued at approximately $11,281,559.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,039 shares of company stock valued at $4,864,574. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Terex

A number of hedge funds and other institutional investors have recently modified their holdings of TEX. Raymond James & Associates grew its position in Terex by 17.7% in the first quarter. Raymond James & Associates now owns 39,745 shares of the industrial products company’s stock valued at $1,417,000 after acquiring an additional 5,990 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Terex in the first quarter valued at approximately $291,000. PNC Financial Services Group Inc. grew its stake in shares of Terex by 106.6% during the first quarter. PNC Financial Services Group Inc. now owns 10,369 shares of the industrial products company’s stock worth $368,000 after buying an additional 5,351 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Terex by 42.6% in the 1st quarter. Acadian Asset Management LLC now owns 4,984 shares of the industrial products company’s stock valued at $177,000 after acquiring an additional 1,488 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in shares of Terex by 40.1% during the 1st quarter. MetLife Investment Management LLC now owns 80,649 shares of the industrial products company’s stock valued at $2,876,000 after acquiring an additional 23,093 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

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.