Q1 2024 EPS Estimates for Terex Co. (NYSE:TEX) Lifted by Zacks Research

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

TEX has been the subject of several other reports. Truist Financial started 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. The Goldman Sachs Group boosted their price objective on Terex from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Evercore ISI reduced their price objective on Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Tuesday, February 20th. Citigroup boosted their price objective on Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. cut 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Terex has an average rating of “Hold” and a consensus target price of $65.08.

Terex Stock Performance

Shares of TEX stock opened at $61.00 on Monday. The company has a quick ratio of 0.95, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $59.82 and a two-hundred day moving average of $56.18. Terex has a 52 week low of $42.50 and a 52 week high of $65.89. The company has a market cap of $4.11 billion, a P/E ratio of 8.04, a PEG ratio of 0.60 and a beta of 1.64.

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

Terex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.11%. Terex’s dividend payout ratio is currently 8.96%.

Insider Buying and Selling at Terex

In other Terex news, CEO John L. Garrison, Jr. sold 50,000 shares of the company’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 owns 315,483 shares of the company’s stock, valued at $20,279,247.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Terex news, CEO John L. Garrison, Jr. sold 59,094 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the sale, the chief executive officer now directly owns 380,834 shares of the company’s stock, valued at approximately $22,876,698.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John L. Garrison, Jr. sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $64.28, for a total transaction of $3,214,000.00. Following the sale, the chief executive officer now directly owns 315,483 shares in the company, valued at $20,279,247.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,039 shares of company stock valued at $8,078,574. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Terex

Large investors have recently added to or reduced their stakes in the company. Curated Wealth Partners LLC increased its position in Terex by 48.1% during the fourth quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $10,166,000 after buying an additional 57,500 shares during the last quarter. QRG Capital Management Inc. bought a new position in shares of Terex during the third quarter worth $294,000. International Assets Investment Management LLC boosted its position in shares of Terex by 5,549.8% during the fourth quarter. International Assets Investment Management LLC now owns 128,193 shares of the industrial products company’s stock worth $7,366,000 after purchasing an additional 125,924 shares in the last quarter. Trexquant Investment LP lifted its position in Terex by 49.2% in the 3rd quarter. Trexquant Investment LP now owns 64,448 shares of the industrial products company’s stock valued at $3,713,000 after acquiring an additional 21,257 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Terex in the 3rd quarter valued at $302,000. 92.88% of the stock is owned by institutional investors and hedge funds.

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.