Q1 2024 Earnings Estimate for Terex Co. (NYSE:TEX) Issued By Zacks Research

Posted by Defense World Staff on Jun 26th, 2023

Terex Co. (NYSE:TEX – Get Rating) – Research analysts at Zacks Research increased their Q1 2024 EPS estimates for shares of Terex in a report issued on Thursday, June 22nd. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $1.51 for the quarter, up from their prior estimate of $1.07. The consensus estimate for Terex’s current full-year earnings is $5.97 per share. Zacks Research also issued estimates for Terex’s Q2 2024 earnings at $1.46 EPS, Q3 2024 earnings at $1.55 EPS, Q4 2024 earnings at $1.45 EPS, FY2024 earnings at $5.97 EPS, Q1 2025 earnings at $1.59 EPS and FY2025 earnings at $6.50 EPS.

Several other research analysts also recently issued reports on TEX. Citigroup cut their price objective on Terex from $63.00 to $50.00 in a research report on Tuesday, April 18th. Stifel Nicolaus lifted their price objective on Terex from $62.00 to $64.00 in a research report on Wednesday, May 3rd. StockNews.com began coverage on Terex in a report on Thursday, May 18th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Terex from $51.00 to $53.00 and gave the company a “hold” rating in a report on Wednesday, April 12th. Finally, Robert W. Baird boosted their price target on Terex from $47.00 to $50.00 in a report on Tuesday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Terex presently has a consensus rating of “Hold” and a consensus price target of $55.45.

Terex Trading Down 2.0 %

Shares of Terex stock opened at $55.78 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 0.96. Terex has a 1 year low of $26.64 and a 1 year high of $60.85. The company has a market capitalization of $3.78 billion, a P/E ratio of 10.62, a P/E/G ratio of 0.53 and a beta of 1.61. The business has a 50 day moving average price of $49.81 and a 200 day moving average price of $49.15.

Terex (NYSE:TEX – Get Rating) last posted its quarterly earnings results on Monday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.56. Terex had a net margin of 7.76% and a return on equity of 31.41%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm earned $0.74 EPS. The company’s revenue for the quarter was up 23.3% on a year-over-year basis.

Hedge Funds Weigh In On Terex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in Terex in the 1st quarter valued at about $26,000. Tucker Asset Management LLC acquired a new stake in shares of Terex in the 1st quarter valued at about $27,000. Dark Forest Capital Management LP acquired a new stake in shares of Terex in the 1st quarter valued at about $28,000. Parkside Financial Bank & Trust raised its stake in shares of Terex by 87.5% in the 1st quarter. Parkside Financial Bank & Trust now owns 930 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 434 shares in the last quarter. Finally, Money Concepts Capital Corp acquired a new stake in shares of Terex in the 4th quarter valued at about $47,000. 91.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Simon Meester sold 6,000 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $50.44, for a total transaction of $302,640.00. Following the completion of the sale, the insider now directly owns 55,907 shares of the company’s stock, valued at approximately $2,819,949.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Kieran Hegarty sold 27,000 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $55.84, for a total transaction of $1,507,680.00. Following the completion of the sale, the insider now directly owns 186,659 shares of the company’s stock, valued at approximately $10,423,038.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Simon Meester sold 6,000 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $50.44, for a total transaction of $302,640.00. Following the completion of the transaction, the insider now directly owns 55,907 shares of the company’s stock, valued at $2,819,949.08. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Tuesday, June 6th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.08%. Terex’s dividend payout ratio is presently 11.43%.

Terex Company Profile

(Get Rating)

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.