Terex (TEX) Outperforms Broader Market: What You Need to Know
In the latest market close, Terex (TEX) reached $63.36, with a +1.12% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 1.07%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw an increase of 1.74%.
The machinery products maker's shares have seen an increase of 9.81% over the last month, surpassing the Industrial Products sector's gain of 0.38% and the S&P 500's gain of 2.93%.
The upcoming earnings release of Terex will be of great interest to investors. The company's earnings report is expected on February 8, 2024. The company is predicted to post an EPS of $1.41, indicating a 5.22% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.22 billion, indicating a 0.46% growth compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Terex. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.23% lower. Currently, Terex is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Terex is currently being traded at a Forward P/E ratio of 8.81. Its industry sports an average Forward P/E of 10.44, so one might conclude that Terex is trading at a discount comparatively.
We can also see that TEX currently has a PEG ratio of 0.85. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. 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 bearing a Zacks Industry Rank of 33, finds itself in the top 14% echelons 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
