AGCO Co. (NYSE:AGCO) Plans $0.29 Quarterly Dividend

AGCO Co. (NYSE:AGCO) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.29 per share by the industrial products company on Friday, June 14th. This represents a $1.16 annualized dividend and a yield of 0.99%. The ex-dividend date is Tuesday, May 14th.

AGCO has raised its dividend payment by an average of 20.2% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. AGCO has a payout ratio of 9.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect AGCO to earn $12.61 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 9.2%.

AGCO Trading Down 0.9 %

Shares of NYSE AGCO traded down $1.06 during mid-day trading on Friday, hitting $116.61. The stock had a trading volume of 664,104 shares, compared to its average volume of 583,150. The business has a 50 day moving average price of $116.03 and a two-hundred day moving average price of $117.16. AGCO has a 1 year low of $105.77 and a 1 year high of $140.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.67 and a current ratio of 1.46. The firm has a market cap of $8.70 billion, a P/E ratio of 7.46, a price-to-earnings-growth ratio of 0.67 and a beta of 1.31.

AGCO (NYSE:AGCO) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $4.03 billion. AGCO had a net margin of 8.13% and a return on equity of 26.96%. AGCO’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.47 EPS. On average, equities analysts anticipate that AGCO will post 13.06 EPS for the current fiscal year.

Analyst Ratings Changes

AGCO has been the topic of several recent analyst reports. Truist Financial initiated coverage on shares of AGCO in a report on Thursday, March 14th. They issued a “buy” rating and a $142.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Oppenheimer increased their target price on AGCO from $153.00 to $154.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Finally, StockNews.com cut AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, AGCO currently has an average rating of “Moderate Buy” and an average price target of $150.50.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.