Equities research analysts at KeyCorp have decreased their Q2 2024 earnings per share (EPS) estimates for Terex Co. (TEX) after issuing a research report on Wednesday, September 27th. KeyCorp analyst S. Barger now expects the industrial products company to earn $2.49 per share for the quarter, down from their prior estimate of $2.61. KeyCorp currently has an “Overweight” rating and a target price of $80.00 on the stock. The consensus estimate for Terex’s current full-year earnings is $7.09 per share. KeyCorp has also issued estimates for Terex’s Q3 2024 earnings at $2.04 EPS and FY2024 earnings at $8.03 EPS.
Terex has been the subject of several other reports as well. StockNews.com recently initiated coverage on Terex, giving the stock a “buy” rating. Citigroup lowered their price target on Terex from $65.00 to $63.00 and assigned a “neutral” rating for the company. Wells Fargo & Company increased their target price on Terex from $66.00 to $74.00. Raymond James began coverage on Terex and issued a “market perform” rating on the stock. Finally, Robert W. Baird raised their price target on Terex from $57.00 to $65.00, giving the stock a “neutral” rating. Currently, the company has an average rating of “Hold” and an average price target of $61.42.
Terex stock opened at $57.62 on Monday. The company’s 50-day moving average is $59.17 and its 200-day moving average is $54.01. Terex has a 1-year low of $29.43 and a 1-year high of $65.64. The company has a market cap of $3.88 billion, a PE ratio of 8.84, a PEG ratio of 0.45, and a beta of 1.68.
Terex last reported its earnings results on Tuesday, August 1st. The industrial products company posted $2.35 EPS for the quarter, beating the consensus estimate of $1.66 by $0.69. Terex had a return on equity of 35.91% and a net margin of 8.96%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.27 billion. In the same period last year, the company earned $1.07 EPS. The company’s revenue for the quarter was up 30.3% year-over-year.
Institutional investors have been buying and selling shares of Terex stock recently. BlackRock Inc. increased its position in Terex by 2.3% in the second quarter. BlackRock Inc. now owns 9,052,238 shares of the company’s stock worth $541,595,000 after acquiring an additional 205,591 shares in the last quarter. Vanguard Group Inc. increased its position in Terex by 0.9% in the first quarter. Vanguard Group Inc. now owns 7,767,160 shares of the company’s stock worth $276,978,000 after acquiring an additional 68,739 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Terex by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,041,702 shares of the company’s stock worth $147,154,000 after acquiring an additional 34,421 shares in the last quarter. State Street Corp increased its position in Terex by 0.3% in the second quarter. State Street Corp now owns 2,340,626 shares of the company’s stock worth $140,040,000 after acquiring an additional 6,357 shares in the last quarter. Finally, FMR LLC increased its position in Terex by 32.4% in the first quarter. FMR LLC now owns 1,974,430 shares of the company’s stock worth $95,523,000 after acquiring an additional 482,695 shares in the last quarter. Institutional investors now own 93.39% of the company’s stock.
Terex recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Monday, August 14th were paid a $0.17 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 1.18%. This is a positive change from Terex’s previous quarterly dividend of $0.15. The payout ratio for the company is currently 10.43%.
Terex Corporation is a global manufacturer and seller of aerial work platforms and materials processing machinery. The company 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.
Sources:
– Terex Co. Q2 2024 EPS Estimates Lowered by KeyCorp Analysts, September 27, 2017, KeyCorp (source)
– Terex Co. (TEX) Stock Rating Upgraded by KeyCorp (source)
– Terex Co. (TEX) Expected to Post Q2 2019 Earnings of $1.09 Per Share (source)