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

AGCO Co. (NYSE:AGCO) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Tuesday, May 14th.

AGCO has raised its dividend by an average of 20.2% per year 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.9 %

NYSE AGCO traded down $1.06 during trading hours on Friday, hitting $116.61. The company’s stock had a trading volume of 664,104 shares, compared to its average volume of 583,150. AGCO has a 52 week low of $105.77 and a 52 week high of $140.46. The company has a market capitalization of $8.70 billion, a PE ratio of 7.46, a price-to-earnings-growth ratio of 0.67 and a beta of 1.31. The company has a current ratio of 1.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.30. The company’s 50-day simple moving average is $116.03 and its two-hundred day simple moving average is $117.16.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on AGCO. JPMorgan Chase & Co. raised their price target on shares of AGCO from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Oppenheimer lifted their target price on shares of AGCO from $153.00 to $154.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. StockNews.com cut shares of AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Truist Financial assumed coverage on shares of AGCO in a research report on Thursday, March 14th. They set a “buy” rating and a $142.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $150.50.

About AGCO

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.