Equities Analysts Issue Forecasts for AGCO Co.’s Q1 2023 Earnings (NYSE:AGCO)

AGCO Co. (NYSE:AGCOGet Rating) – Stock analysts at Jefferies Financial Group issued their Q1 2023 EPS estimates for AGCO in a research report issued on Thursday, July 28th. Jefferies Financial Group analyst S. Volkmann expects that the industrial products company will earn $2.70 per share for the quarter. The consensus estimate for AGCO’s current full-year earnings is $11.78 per share. Jefferies Financial Group also issued estimates for AGCO’s Q2 2023 earnings at $3.00 EPS and Q3 2023 earnings at $4.00 EPS.

AGCO (NYSE:AGCOGet Rating) last announced its earnings results on Thursday, July 28th. The industrial products company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.26. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.92 billion. AGCO had a net margin of 7.85% and a return on equity of 24.11%. AGCO’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $2.88 earnings per share.

Several other equities analysts also recently issued reports on AGCO. Deutsche Bank Aktiengesellschaft cut their target price on AGCO from $141.00 to $129.00 and set a “hold” rating on the stock in a research report on Wednesday, July 13th. StockNews.com raised AGCO from a “hold” rating to a “buy” rating in a report on Friday. Oppenheimer dropped their target price on AGCO from $169.00 to $156.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 5th. JPMorgan Chase & Co. reduced their price target on shares of AGCO from $178.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, July 12th. Finally, Credit Suisse Group set a $128.00 price objective on shares of AGCO in a report on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.83.

AGCO Trading Up 5.5 %

Shares of NYSE:AGCO opened at $108.92 on Monday. The business’s 50-day moving average is $108.44 and its 200 day moving average is $121.59. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 0.69. AGCO has a 1 year low of $88.55 and a 1 year high of $150.28. The firm has a market capitalization of $8.12 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.90 and a beta of 1.40.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. New York State Common Retirement Fund raised its position in AGCO by 2.1% during the fourth quarter. New York State Common Retirement Fund now owns 65,192 shares of the industrial products company’s stock worth $7,564,000 after acquiring an additional 1,312 shares during the period. Banco Santander S.A. raised its position in shares of AGCO by 25.8% during the 4th quarter. Banco Santander S.A. now owns 7,410 shares of the industrial products company’s stock worth $860,000 after purchasing an additional 1,520 shares during the last quarter. Wright Investors Service Inc. purchased a new position in AGCO in the 1st quarter valued at about $1,038,000. Schroder Investment Management Group boosted its holdings in AGCO by 599.3% in the 4th quarter. Schroder Investment Management Group now owns 69,096 shares of the industrial products company’s stock worth $8,016,000 after buying an additional 59,215 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of AGCO by 23.0% during the fourth quarter. First Horizon Advisors Inc. now owns 1,267 shares of the industrial products company’s stock valued at $146,000 after acquiring an additional 237 shares during the last quarter. 77.74% of the stock is owned by institutional investors and hedge funds.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $0.96 dividend on an annualized basis and a yield of 0.88%. AGCO’s payout ratio is 8.06%.

About AGCO

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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.

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Earnings History and Estimates for AGCO (NYSE:AGCO)

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