Terex (NYSE:TEX) Updates FY 2022 Earnings Guidance

Terex (NYSE:TEXGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.80-$4.20 for the period, compared to the consensus earnings per share estimate of $3.73. The company issued revenue guidance of $4.10 billion-$4.30 billion, compared to the consensus revenue estimate of $4.23 billion. Terex also updated its FY22 guidance to $3.80-4.20 EPS.

Analyst Ratings Changes

Several analysts have commented on TEX shares. Deutsche Bank Aktiengesellschaft lowered their price target on Terex from $65.00 to $61.00 in a report on Monday, May 2nd. Bank of America raised Terex from a neutral rating to a buy rating and reduced their price objective for the company from $41.00 to $38.00 in a research note on Friday, May 13th. Robert W. Baird lowered Terex from an outperform rating to a neutral rating and set a $44.00 price objective on the stock. in a research note on Friday, April 8th. Citigroup lifted their price objective on Terex from $35.00 to $40.00 in a research note on Thursday. Finally, Morgan Stanley reduced their price objective on Terex from $42.00 to $30.00 and set an equal weight rating on the stock in a research note on Monday, July 18th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $45.50.

Terex Stock Performance

TEX traded down $0.39 during trading on Friday, reaching $34.11. 472,138 shares of the company were exchanged, compared to its average volume of 738,871. Terex has a 52 week low of $26.64 and a 52 week high of $53.82. The stock has a market cap of $2.36 billion, a P/E ratio of 10.31, a PEG ratio of 0.53 and a beta of 1.62. The firm has a 50 day moving average of $31.22 and a 200 day moving average of $35.39. The company has a current ratio of 2.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79.

Terex (NYSE:TEXGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.20. Terex had a return on equity of 21.46% and a net margin of 5.73%. During the same period in the previous year, the business earned $1.02 earnings per share. On average, sell-side analysts forecast that Terex will post 3.84 EPS for the current fiscal year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Stockholders of record on Friday, August 12th will be issued a $0.13 dividend. The ex-dividend date is Thursday, August 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.52%. Terex’s dividend payout ratio (DPR) is 15.71%.

Insider Activity

In other news, VP Scott Posner sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $33.96, for a total value of $67,920.00. Following the completion of the sale, the vice president now owns 64,621 shares in the company, valued at $2,194,529.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Terex

Several hedge funds have recently modified their holdings of TEX. Raymond James & Associates lifted its holdings in shares of Terex by 17.7% during the first quarter. Raymond James & Associates now owns 39,745 shares of the industrial products company’s stock valued at $1,417,000 after purchasing an additional 5,990 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Terex in the 1st quarter valued at about $291,000. PNC Financial Services Group Inc. lifted its position in shares of 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 in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Terex by 42.6% during 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 shares of 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 purchasing an additional 23,093 shares during the period. 85.46% of the stock is owned by hedge funds and other institutional investors.

Terex Company Profile

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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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Earnings History and Estimates for Terex (NYSE:TEX)

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