Equities Analysts Set Expectations for TSE:AFN Q3 Earnings

Ag Growth International Inc. (TSE:AFN) – Equities research analysts at National Bank Financial reduced their Q3 2024 earnings per share (EPS) estimates for shares of Ag Growth International in a research report issued on Monday, October 21st. National Bank Financial analyst M. Sytchev now forecasts that the company will post earnings of $1.43 per share for the quarter, down from their previous forecast of $1.55. The consensus estimate for Ag Growth International’s current full-year earnings is $6.58 per share. National Bank Financial also issued estimates for Ag Growth International’s FY2024 earnings at $4.69 EPS and FY2025 earnings at $4.91 EPS.

A number of other research analysts also recently weighed in on the stock. CIBC decreased their price objective on shares of Ag Growth International from C$78.00 to C$75.00 and set an “outperform” rating for the company in a research report on Wednesday, October 16th. Raymond James cut Ag Growth International from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from C$72.00 to C$62.00 in a report on Friday, October 18th. Finally, TD Securities lowered their price target on Ag Growth International from C$79.00 to C$77.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$75.67.

Ag Growth International Stock Performance

Shares of TSE AFN opened at C$48.72 on Wednesday. The company has a market capitalization of C$929.09 million, a PE ratio of 32.05, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29. The company has a debt-to-equity ratio of 298.35, a quick ratio of 0.84 and a current ratio of 1.49. The company’s fifty day moving average price is C$53.87 and its 200 day moving average price is C$53.56. Ag Growth International has a 1 year low of C$45.96 and a 1 year high of C$64.51.

Ag Growth International (TSE:AFN) last released its quarterly earnings data on Wednesday, August 7th. The company reported C$1.42 EPS for the quarter, missing the consensus estimate of C$1.67 by C($0.25). The company had revenue of C$351.78 million during the quarter, compared to analysts’ expectations of C$397.51 million. Ag Growth International had a return on equity of 10.35% and a net margin of 2.13%.

Ag Growth International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. Ag Growth International’s payout ratio is currently 39.47%.

About Ag Growth International

Ag Growth International Inc, together with its subsidiaries, manufactures and sells equipment for the agriculture industry in Canada, the United States, and internationally. It operates through Farm and Commercial segments. The company offers grain, bolted, hopper, and smooth wall bins; temporary storage; unloads and sweeps systems; water tanks; secondary containment systems; fuel tanks; and storage accessories, as well as mixed flow dryers; fans and heaters; aeration products; vents and exhausters; and stirring systems.