AGCO (NYSE:AGCO) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

AGCO (NYSE:AGCO) released its quarterly earnings data on Thursday. The industrial products company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.03, Briefing.com reports. AGCO had a return on equity of 26.96% and a net margin of 8.13%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the company posted $3.51 earnings per share. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. AGCO updated its FY24 guidance to ~$12.00 EPS.

AGCO Trading Up 1.0 %

NYSE AGCO traded up $1.16 during trading hours on Friday, reaching $111.79. The company had a trading volume of 1,097,316 shares, compared to its average volume of 712,588. AGCO has a 1-year low of $105.77 and a 1-year high of $140.46. 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 stock has a 50-day moving average of $116.61 and a 200 day moving average of $116.90. The stock has a market capitalization of $8.34 billion, a P/E ratio of 7.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Tuesday, May 14th. AGCO’s payout ratio is presently 7.42%.

Analyst Ratings Changes

AGCO has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price target on AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday. StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Oppenheimer lowered their target price on AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a report on Friday. Finally, Truist Financial reduced their price objective on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research note on Friday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $140.86.

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.