AGCO Co. (NYSE:AGCO – Free Report) – Equities researchers at Zacks Research decreased their Q3 2024 earnings estimates for AGCO in a research report issued to clients and investors on Tuesday, September 12th. Zacks Research analyst S. Deb now forecasts that the industrial products company will earn $3.18 per share for the quarter, down from their previous forecast of $3.20. The consensus estimate for AGCO’s current full-year earnings is $15.19 per share. Zacks Research also issued estimates for AGCO’s FY2024 earnings at $13.93 EPS.
AGCO has been the subject of a number of other reports. StockNews.com started coverage on shares of AGCO in a report on Thursday, August 17th. They issued a “buy” rating for the company. Oppenheimer reduced their price target on shares of AGCO from $158.00 to $153.00 and set an “outperform” rating for the company in a report on Friday, July 28th. Finally, Citigroup raised their price target on shares of AGCO from $150.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, AGCO presently has a consensus rating of “Moderate Buy” and an average target price of $154.64.
AGCO Trading Down 1.4 %
NYSE:AGCO opened at $119.87 on Thursday. The company has a current ratio of 1.57, a quick ratio of 0.68 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 0.89 and a beta of 1.38. The firm has a fifty day simple moving average of $128.86 and a two-hundred day simple moving average of $127.24. AGCO has a 12 month low of $93.53 and a 12 month high of $145.53.
AGCO (NYSE:AGCO – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $4.29 EPS for the quarter, topping analysts’ consensus estimates of $3.72 by $0.57. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.69 billion. AGCO had a net margin of 7.84% and a return on equity of 29.56%. The business’s quarterly revenue was up 29.0% on a year-over-year basis. During the same period last year, the company posted $2.38 earnings per share.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in AGCO. Raymond James Financial Services Advisors Inc. lifted its position in shares of AGCO by 21.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,962 shares of the industrial products company’s stock valued at $433,000 after purchasing an additional 522 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of AGCO during the first quarter valued at about $306,000. Acadian Asset Management LLC lifted its position in shares of AGCO by 118.1% during the first quarter. Acadian Asset Management LLC now owns 1,758 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 952 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of AGCO by 10.4% during the first quarter. Great West Life Assurance Co. Can now owns 36,347 shares of the industrial products company’s stock valued at $5,469,000 after purchasing an additional 3,425 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its position in shares of AGCO by 3.6% during the first quarter. Raymond James Trust N.A. now owns 3,743 shares of the industrial products company’s stock valued at $547,000 after purchasing an additional 129 shares in the last quarter. 75.39% of the stock is owned by institutional investors.
AGCO Announces Dividend
The company also recently declared 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 dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, August 14th. AGCO’s payout ratio is currently 7.82%.
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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