Terex (TEX) Outpaces Stock Market Gains: What You Should Know
Terex (TEX) closed at $55.47 in the latest trading session, marking a +1.02% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.43%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.71%.
Shares of the machinery products maker have depreciated by 6.31% over the course of the past month, underperforming the Industrial Products sector's loss of 1.93% and the S&P 500's loss of 2.1%.
Investors will be eagerly watching for the performance of Terex in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.65, marking a 37.5% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.25 billion, showing a 11.52% escalation compared to the year-ago quarter.
TEX's full-year Zacks Consensus Estimates are calling for earnings of $7.09 per share and revenue of $5.12 billion. These results would represent year-over-year changes of +64.12% and +15.86%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Terex. 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.03% increase. Right now, Terex possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Terex is at present trading with a Forward P/E ratio of 7.74. This indicates a discount in contrast to its industry's Forward P/E of 9.87.
It is also worth noting that TEX currently has a PEG ratio of 0.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Manufacturing - Construction and Mining was holding an average PEG ratio of 0.92 at yesterday's closing price.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 17, this industry ranks in the top 7% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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
