Terex (TEX) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Terex (TEX) closed at $57.40, marking a +0.6% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.18% for the day. Elsewhere, the Dow gained 0.07%, while the tech-heavy Nasdaq added 0.1%.
Coming into today, shares of the machinery products maker had gained 11.55% in the past month. In that same time, the Industrial Products sector gained 4.77%, while the S&P 500 gained 2.75%.
Market participants will be closely following the financial results of Terex in its upcoming release. The company is expected to report EPS of $1.40, up 4.48% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.23 billion, up 0.65% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Terex. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.67% fall in the Zacks Consensus EPS estimate. Terex is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Terex is currently being traded at a Forward P/E ratio of 7.92. This represents a discount compared to its industry's average Forward P/E of 10.18.
We can additionally observe that TEX currently boasts a PEG ratio of 0.68. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Manufacturing - Construction and Mining industry was having an average PEG ratio of 0.9.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 232, positioning it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
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Terex Corporation (TEX) : Free Stock Analysis Report
