AGCO (NYSE:AGCO) Posts Earnings Results, Misses Expectations By $0.40 EPS

AGCO (NYSE:AGCOGet Free Report) announced its earnings results on Tuesday. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40), Briefing.com reports. AGCO had a return on equity of 21.17% and a net margin of 3.13%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the firm posted $3.97 earnings per share. The firm’s revenue was down 24.8% on a year-over-year basis. AGCO updated its FY 2024 guidance to 7.500-7.500 EPS and its FY24 guidance to approx $7.50 EPS.

AGCO Stock Up 3.9 %

AGCO stock traded up $3.48 during midday trading on Wednesday, hitting $93.71. The company’s stock had a trading volume of 514,099 shares, compared to its average volume of 765,900. The firm’s 50-day moving average is $95.52 and its 200-day moving average is $99.57. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. AGCO has a 12 month low of $84.35 and a 12 month high of $130.26. The company has a market cap of $6.99 billion, a PE ratio of 16.73, a P/E/G ratio of 0.94 and a beta of 1.25.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s dividend payout ratio (DPR) is currently 20.71%.

Analysts Set New Price Targets

A number of analysts recently weighed in on AGCO shares. Truist Financial boosted their target price on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird cut their price objective on shares of AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Citigroup lifted their target price on shares of AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Oppenheimer cut their price target on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets assumed coverage on AGCO in a report on Friday, August 9th. They issued a “market perform” rating and a $96.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $114.40.

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AGCO Company Profile

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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.

See Also

Earnings History for AGCO (NYSE:AGCO)

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