Brokers Set Expectations for Terex Co.’s Q3 2024 Earnings (NYSE:TEX)

Terex Co. (NYSE:TEX) – Equities research analysts at Zacks Research decreased their Q3 2024 earnings per share estimates for Terex in a note issued to investors on Tuesday, September 17th. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $1.91 per share for the quarter, down from their previous estimate of $1.92. The consensus estimate for Terex’s current full-year earnings is $7.21 per share. Zacks Research also issued estimates for Terex’s FY2024 earnings at $7.20 EPS, Q4 2025 earnings at $1.61 EPS, FY2025 earnings at $6.78 EPS and Q2 2026 earnings at $1.99 EPS.

Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.35 earnings per share.

TEX has been the topic of a number of other research reports. Citigroup initiated coverage on Terex in a research note on Wednesday, June 26th. They set a “neutral” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Raymond James initiated coverage on Terex in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial lowered their target price on Terex from $74.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Jefferies Financial Group lowered their target price on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Terex presently has a consensus rating of “Hold” and an average price target of $61.20.

Terex Price Performance

NYSE:TEX opened at $51.83 on Friday. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 6.86, a P/E/G ratio of 3.61 and a beta of 1.53. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. Terex has a 12-month low of $43.70 and a 12-month high of $68.08. The stock’s 50 day moving average price is $56.01 and its two-hundred day moving average price is $57.86.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 9th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, August 9th. Terex’s dividend payout ratio is currently 9.01%.

Insider Buying and Selling at Terex

In other Terex news, Director Andra Rush bought 2,205 shares of Terex stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $54.36 per share, with a total value of $119,863.80. Following the acquisition, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 187 shares in the last quarter. FinTrust Capital Advisors LLC boosted its holdings in shares of Terex by 202.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 465 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new position in Terex during the 4th quarter worth $61,000. Principal Securities Inc. bought a new position in Terex during the 4th quarter worth $85,000. Finally, International Assets Investment Management LLC bought a new position in Terex during the 2nd quarter worth $109,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

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.