AGCO (NYSE:AGCO – Get 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
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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.
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