AGCO (NYSE:AGCO) Issues Quarterly Earnings Results

AGCO (NYSE:AGCOGet Free Report) announced its quarterly earnings data on Tuesday. The industrial products company reported $3.78 EPS for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25), Briefing.com reports. AGCO had a net margin of 7.96% and a return on equity of 29.50%. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the business posted $4.47 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. AGCO updated its FY 2024 guidance to 13.150-13.150 EPS and its FY24 guidance to $13.15 EPS.

AGCO Stock Performance

AGCO opened at $117.91 on Thursday. The company has a current ratio of 1.62, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average price is $119.69 and its two-hundred day moving average price is $120.48. AGCO has a 1-year low of $109.81 and a 1-year high of $145.53. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 1.49 and a beta of 1.35.

AGCO Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.98%. AGCO’s payout ratio is presently 7.54%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AGCO. Quarry LP grew its stake in shares of AGCO by 278.0% in the 2nd quarter. Quarry LP now owns 189 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 139 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of AGCO in the 2nd quarter worth $36,000. Covington Capital Management grew its stake in shares of AGCO by 227.8% in the 3rd quarter. Covington Capital Management now owns 377 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 262 shares in the last quarter. Coppell Advisory Solutions LLC bought a new stake in shares of AGCO in the 2nd quarter worth $51,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of AGCO in the 1st quarter worth $59,000. Institutional investors and hedge funds own 75.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of AGCO from $142.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, December 4th. Bank of America dropped their price objective on shares of AGCO from $149.00 to $131.00 in a research note on Wednesday, October 11th. Citigroup dropped their price objective on shares of AGCO from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, October 13th. StockNews.com raised shares of AGCO from a “hold” rating to a “buy” rating in a report on Thursday, February 1st. Finally, Stifel Nicolaus decreased their price target on shares of AGCO from $160.00 to $153.00 and set a “buy” rating on the stock in a report on Tuesday, December 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, AGCO currently has an average rating of “Moderate Buy” and a consensus target price of $146.40.

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AGCO Company Profile

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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 for AGCO (NYSE:AGCO)

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