Terex (TEX) Gains As Market Dips: What You Should Know
In the latest trading session, Terex (TEX) closed at $56.87, marking a +0.14% move from the previous day. This change outpaced the S&P 500's 0.23% loss on the day. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 0.09%.
Prior to today's trading, shares of the machinery products maker had gained 2.94% over the past month. This has outpaced the Industrial Products sector's loss of 5.02% and the S&P 500's loss of 1.43% in that time.
Terex will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.66, up 38.33% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.25 billion, up 11.52% from the year-ago period.
TEX's full-year Zacks Consensus Estimates are calling for earnings of $6.94 per share and revenue of $5.12 billion. These results would represent year-over-year changes of +60.65% and +15.83%, respectively.
It is also important to note the recent changes to analyst estimates for Terex. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.09% higher. Terex is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Terex's current valuation metrics, including its Forward P/E ratio of 8.19. This valuation marks a discount compared to its industry's average Forward P/E of 10.04.
Investors should also note that TEX has a PEG ratio of 0.45 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Manufacturing - Construction and Mining industry currently had an average PEG ratio of 0.97 as of yesterday's close.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 3, which puts it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Terex Corporation (TEX) : Free Stock Analysis Report
