Terex Co. (NYSE:TEX) Expected to Earn Q4 2023 Earnings of $1.43 Per Share

Terex Co. (NYSE:TEX - Free Report) - Research analysts at KeyCorp boosted their Q4 2023 EPS estimates for Terex in a note issued to investors on Wednesday, August 2nd. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings per share of $1.43 for the quarter, up from their previous forecast of $1.38. KeyCorp currently has a "Overweight" rating and a $80.00 price target on the stock. The consensus estimate for Terex's current full-year earnings is $7.00 per share.

Terex (NYSE:TEX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.69. Terex had a net margin of 8.96% and a return on equity of 37.92%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the business posted $1.07 earnings per share. Terex's quarterly revenue was up 30.3% on a year-over-year basis.

TEX has been the subject of several other research reports. StockNews.com began coverage on shares of Terex in a report on Thursday, May 18th. They set a "buy" rating for the company. The Goldman Sachs Group upped their target price on shares of Terex from $53.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday. 58.com restated a "maintains" rating on shares of Terex in a report on Wednesday, May 3rd. Raymond James started coverage on shares of Terex in a research report on Thursday, July 6th. They issued a "market perform" rating for the company. Finally, Robert W. Baird upped their price objective on shares of Terex from $57.00 to $65.00 and gave the stock a "neutral" rating in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $61.58.

Read Our Latest Stock Analysis on TEX

TEX traded down $1.40 during trading hours on Friday, hitting $61.93. 112,198 shares of the company's stock were exchanged, compared to its average volume of 909,352. Terex has a 12-month low of $28.82 and a 12-month high of $65.64. The firm has a 50 day moving average of $57.75 and a 200 day moving average of $52.48. The firm has a market cap of $4.20 billion, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 0.50 and a beta of 1.67. The company has a current ratio of 1.99, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60.

Several hedge funds and other institutional investors have recently bought and sold shares of TEX. Raymond James & Associates lifted 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 worth $1,417,000 after purchasing an additional 5,990 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Terex in the first quarter worth about $291,000. PNC Financial Services Group Inc. increased its position in Terex by 106.6% in the first quarter. PNC Financial Services Group Inc. now owns 10,369 shares of the industrial products company's stock worth $368,000 after purchasing an additional 5,351 shares during the period. Acadian Asset Management LLC increased its position in Terex by 42.6% in the first quarter. Acadian Asset Management LLC now owns 4,984 shares of the industrial products company's stock worth $177,000 after purchasing an additional 1,488 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Terex by 40.1% during the first quarter. MetLife Investment Management LLC now owns 80,649 shares of the industrial products company's stock worth $2,876,000 after buying an additional 23,093 shares during the last quarter. 91.66% of the stock is owned by institutional investors.

In related news, insider Kieran Hegarty sold 27,000 shares of Terex stock in a transaction dated 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 sale, the insider now directly owns 186,659 shares in the company, valued at $10,423,038.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Terex news, insider Kieran Hegarty sold 27,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $55.84, for a total transaction of $1,507,680.00. Following the transaction, the insider now owns 186,659 shares in the company, valued at $10,423,038.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John L. Garrison, Jr. sold 9,966 shares of the stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $60.00, for a total value of $597,960.00. Following the transaction, the chief executive officer now owns 535,331 shares in the company, valued at approximately $32,119,860. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company's stock.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, August 14th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.10%. This is an increase from Terex's previous quarterly dividend of $0.15. Terex's dividend payout ratio (DPR) is presently 9.20%.

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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