AGCO Co. (NYSE:AGCO) to Issue $0.29 Quarterly Dividend

AGCO Co. (NYSE:AGCO) declared a quarterly dividend on Thursday, October 24th,NASDAQ Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.29 per share by the industrial products company on Monday, December 16th. This represents a $1.16 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Friday, November 15th.

AGCO has raised its dividend payment by an average of 20.2% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. AGCO has a dividend payout ratio of 16.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect AGCO to earn $6.59 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 17.6%.

AGCO Stock Performance

Shares of AGCO stock opened at $89.48 on Thursday. The firm’s 50 day moving average is $95.75 and its two-hundred day moving average is $98.61. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $6.68 billion, a P/E ratio of 39.59, a P/E/G ratio of 0.51 and a beta of 1.25. AGCO has a 52 week low of $84.35 and a 52 week high of $130.26.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the previous year, the firm posted $3.97 EPS. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. Research analysts forecast that AGCO will post 7.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AGCO shares. Truist Financial upped their price target on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets assumed coverage on shares of AGCO in a research note on Friday, August 9th. They issued a “market perform” rating and a $96.00 target price for the company. Robert W. Baird reduced their price target on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. UBS Group decreased their target price on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, Barclays lowered their price target on AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a research report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, AGCO presently has an average rating of “Hold” and an average target price of $114.40.

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.