Zacks: Brokerages Expect AGCO Co. (NYSE:AGCO) to Announce $2.91 Earnings Per Share

Brokerages expect that AGCO Co. (NYSE:AGCOGet Rating) will announce earnings of $2.91 per share for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for AGCO’s earnings. The highest EPS estimate is $3.37 and the lowest is $2.70. AGCO reported earnings per share of $2.88 in the same quarter last year, which suggests a positive year-over-year growth rate of 1%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that AGCO will report full-year earnings of $12.00 per share for the current year, with EPS estimates ranging from $11.78 to $12.86. For the next year, analysts anticipate that the firm will report earnings of $14.18 per share, with EPS estimates ranging from $12.67 to $21.83. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow AGCO.

AGCO (NYSE:AGCOGet Rating) last released its earnings results on Tuesday, May 3rd. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.48. AGCO had a return on equity of 24.11% and a net margin of 7.85%. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the business posted $2.00 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis.

Several brokerages have recently weighed in on AGCO. Morgan Stanley reduced their price target on AGCO from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Monday, April 18th. William Blair reiterated an “outperform” rating on shares of AGCO in a research report on Tuesday, February 8th. Deutsche Bank Aktiengesellschaft lifted their price target on AGCO from $141.00 to $143.00 and gave the company a “hold” rating in a research report on Thursday, April 14th. Wells Fargo & Company began coverage on AGCO in a research report on Friday, March 11th. They issued an “overweight” rating and a $175.00 price target for the company. Finally, Zacks Investment Research cut AGCO from a “strong-buy” rating to a “hold” rating and set a $144.00 price target for the company. in a research report on Tuesday, April 12th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $149.91.

A number of hedge funds have recently modified their holdings of AGCO. Norges Bank bought a new stake in AGCO during the fourth quarter worth about $130,778,000. BlackRock Inc. lifted its stake in AGCO by 19.7% during the first quarter. BlackRock Inc. now owns 6,796,588 shares of the industrial products company’s stock worth $992,507,000 after purchasing an additional 1,119,255 shares during the last quarter. Pendal Group Ltd lifted its stake in shares of AGCO by 27,037.3% in the 1st quarter. Pendal Group Ltd now owns 775,854 shares of the industrial products company’s stock valued at $113,298,000 after acquiring an additional 772,995 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of AGCO by 40.6% in the 4th quarter. Nordea Investment Management AB now owns 1,949,224 shares of the industrial products company’s stock valued at $225,564,000 after acquiring an additional 563,239 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of AGCO by 545.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 481,506 shares of the industrial products company’s stock valued at $55,332,000 after acquiring an additional 406,935 shares during the last quarter. 77.74% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE AGCO traded down $3.85 during mid-day trading on Wednesday, hitting $129.23. The company had a trading volume of 352,059 shares, compared to its average volume of 780,588. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 10.85, a P/E/G ratio of 1.10 and a beta of 1.32. AGCO has a 1 year low of $108.56 and a 1 year high of $150.28. The company has a current ratio of 1.64, a quick ratio of 0.69 and a debt-to-equity ratio of 0.52. The stock’s 50-day moving average price is $130.51 and its 200-day moving average price is $125.54.

The company also recently declared a dividend, which will be paid on Tuesday, June 21st. Shareholders of record on Friday, May 20th will be paid a dividend of $4.50 per share. The ex-dividend date is Thursday, May 19th. AGCO’s dividend payout ratio (DPR) is currently 8.06%.

AGCO Company Profile (Get Rating)

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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