Q1 2024 EPS Estimates for AGCO Co. (NYSE:AGCO) Lowered by Analyst

AGCO Co. (NYSE:AGCO) – Investment analysts at Zacks Research reduced their Q1 2024 earnings per share (EPS) estimates for AGCO in a note issued to investors on Tuesday, September 12th. Zacks Research analyst S. Deb now forecasts that the industrial products company will earn $3.11 per share for the quarter, down from their previous forecast of $3.21. The consensus estimate for AGCO’s current full-year earnings is $15.19 per share. Zacks Research also issued estimates for AGCO’s Q2 2024 earnings at $3.72 EPS, Q4 2024 earnings at $3.92 EPS, Q1 2025 earnings at $3.43 EPS, Q2 2025 earnings at $3.98 EPS and FY2025 earnings at $15.16 EPS.

Several other equities analysts also recently commented on the company. Citigroup upped their price objective on AGCO from $150.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Oppenheimer decreased their price target on shares of AGCO from $158.00 to $153.00 and set an “outperform” rating on the stock in a report on Friday, July 28th. Finally, StockNews.com began coverage on AGCO in a report on Thursday, August 17th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, AGCO presently has an average rating of “Moderate Buy” and an average price target of $154.64.

AGCO Stock Performance

AGCO stock traded down $0.35 during midday trading on Wednesday, hitting $121.28. The company’s stock had a trading volume of 79,390 shares, compared to its average volume of 623,195. The stock’s 50-day moving average price is $129.06 and its 200 day moving average price is $127.29. The company has a quick ratio of 0.68, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 0.89 and a beta of 1.38. AGCO has a 1 year low of $93.53 and a 1 year high of $145.53.

AGCO (NYSE:AGCO) last announced its earnings results on Thursday, July 27th. The industrial products company reported $4.29 EPS for the quarter, beating the consensus estimate of $3.72 by $0.57. AGCO had a net margin of 7.84% and a return on equity of 29.56%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company posted $2.38 earnings per share. The firm’s revenue for the quarter was up 29.0% on a year-over-year basis.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Monday, August 14th. AGCO’s dividend payout ratio (DPR) is presently 7.82%.

Hedge Funds Weigh In On AGCO

Large investors have recently modified their holdings of the stock. Delphi Management Inc. MA purchased a new position in AGCO in the second quarter worth about $1,363,000. Virginia Retirement Systems ET AL purchased a new stake in shares of AGCO during the second quarter valued at approximately $3,430,000. Comerica Bank bought a new stake in shares of AGCO during the second quarter valued at approximately $14,450,000. Osaic Holdings Inc. raised its holdings in AGCO by 2.7% in the 2nd quarter. Osaic Holdings Inc. now owns 8,910 shares of the industrial products company’s stock worth $1,171,000 after acquiring an additional 231 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in AGCO by 10.6% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 10,674 shares of the industrial products company’s stock valued at $1,403,000 after acquiring an additional 1,019 shares in the last quarter. Hedge funds and other institutional investors own 75.39% of the company’s stock.

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.