Terex (TEX) Declines More Than Market: Some Information for Investors
In the latest market close, Terex (TEX) reached $62.92, with a -0.24% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.06%. On the other hand, the Dow registered a gain of 0.35%, and the technology-centric Nasdaq decreased by 0.76%.
Coming into today, shares of the machinery products maker had gained 9.76% in the past month. In that same time, the Industrial Products sector gained 0.15%, while the S&P 500 gained 3.36%.
The investment community will be paying close attention to the earnings performance of Terex in its upcoming release. The company is slated to reveal its earnings on February 8, 2024. The company is forecasted to report an EPS of $1.41, showcasing a 5.22% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.22 billion, indicating a 0.46% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for Terex. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.23% decrease. At present, Terex boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Terex has a Forward P/E ratio of 8.87 right now. Its industry sports an average Forward P/E of 10.41, so one might conclude that Terex is trading at a discount comparatively.
Investors should also note that TEX has a PEG ratio of 0.85 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. TEX's industry had an average PEG ratio of 0.96 as of yesterday's close.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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
