Terex (TEX) Advances While Market Declines: Some Information for Investors
The latest trading session saw Terex (TEX) ending at $54.23, denoting a +0.43% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.01% for the day. Meanwhile, the Dow experienced a rise of 0.04%, and the technology-dominated Nasdaq saw a decrease of 0.25%.
Shares of the machinery products maker witnessed a loss of 9.29% over the previous month, trailing the performance of the Industrial Products sector with its loss of 1.74% and the S&P 500's loss of 1.6%.
Investors will be eagerly watching for the performance of Terex in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 26, 2023. The company is expected to report EPS of $1.66, up 38.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.25 billion, up 11.52% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.09 per share and a revenue of $5.12 billion, representing changes of +64.12% and +15.86%, respectively, from the prior year.
Any recent changes to analyst estimates for Terex should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% upward. Right now, Terex possesses a Zacks Rank of #3 (Hold).
Investors should also note Terex's current valuation metrics, including its Forward P/E ratio of 7.61. This expresses a discount compared to the average Forward P/E of 9.45 of its industry.
It's also important to note that TEX currently trades at a PEG ratio of 0.37. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Manufacturing - Construction and Mining industry held an average PEG ratio of 0.85.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 17, positioning it in the top 7% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Terex Corporation (TEX) : Free Stock Analysis Report
