Terex (TEX) Stock Sinks As Market Gains: What You Should Know
Terex (TEX) ended the recent trading session at $57.68, demonstrating a -0.52% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 0.36%.
The the stock of machinery products maker has fallen by 1.65% in the past month, lagging the Industrial Products sector's loss of 0.83% and the S&P 500's gain of 2.4%.
The investment community will be closely monitoring the performance of Terex in its forthcoming earnings report. The company is scheduled to release its earnings on February 8, 2024. The company's earnings per share (EPS) are projected to be $1.41, reflecting a 5.22% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.22 billion, indicating a 0.46% upward movement from the same quarter last year.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.19% downward. Terex is currently a Zacks Rank #3 (Hold).
In terms of valuation, Terex is currently trading at a Forward P/E ratio of 8.15. This indicates a discount in contrast to its industry's Forward P/E of 10.06.
One should further note that TEX currently holds a PEG ratio of 0.78. 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 industry had an average PEG ratio of 0.93 as trading concluded yesterday.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 33% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Terex Corporation (TEX) : Free Stock Analysis Report
