AGCO Co. (NYSE:AGCO) Expected to Earn Q1 2024 Earnings of $2.30 Per Share

AGCO Co. (NYSE:AGCOFree Report) – Equities research analysts at William Blair issued their Q1 2024 earnings estimates for shares of AGCO in a report released on Tuesday, February 6th. William Blair analyst L. De. Maria forecasts that the industrial products company will post earnings of $2.30 per share for the quarter. The consensus estimate for AGCO’s current full-year earnings is $13.15 per share. William Blair also issued estimates for AGCO’s Q4 2024 earnings at $4.11 EPS and FY2024 earnings at $13.15 EPS.

AGCO (NYSE:AGCOGet Free Report) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $3.78 EPS for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). AGCO had a net margin of 8.13% and a return on equity of 26.96%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the firm posted $4.47 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis.

AGCO has been the subject of several other research reports. JPMorgan Chase & Co. lifted their price target on AGCO from $142.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, December 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $153.00 price target on shares of AGCO in a research report on Wednesday, December 6th. Citigroup lowered their price target on AGCO from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, October 13th. Stifel Nicolaus decreased their target price on AGCO from $160.00 to $153.00 and set a “buy” rating for the company in a research report on Tuesday, December 19th. Finally, StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.56.

View Our Latest Analysis on AGCO

AGCO Price Performance

AGCO opened at $117.42 on Friday. The stock has a 50-day moving average price of $119.77 and a 200-day moving average price of $120.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.46 and a quick ratio of 0.72. The firm has a market cap of $8.79 billion, a PE ratio of 7.51, a P/E/G ratio of 1.45 and a beta of 1.35. AGCO has a 1 year low of $109.81 and a 1 year high of $145.53.

Institutional Investors Weigh In On AGCO

A number of large investors have recently made changes to their positions in AGCO. Raymond James Financial Services Advisors Inc. grew its stake in shares of AGCO by 21.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 2,962 shares of the industrial products company’s stock valued at $433,000 after acquiring an additional 522 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of AGCO during the 1st quarter valued at approximately $306,000. Acadian Asset Management LLC grew its stake in shares of AGCO by 118.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,758 shares of the industrial products company’s stock valued at $256,000 after acquiring an additional 952 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of AGCO by 10.4% during the 1st 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 acquiring an additional 3,425 shares during the period. Finally, Raymond James Trust N.A. grew its stake in shares of AGCO by 3.6% during the 1st quarter. Raymond James Trust N.A. now owns 3,743 shares of the industrial products company’s stock valued at $547,000 after acquiring an additional 129 shares during the period. 75.39% of the stock is currently owned by institutional investors.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.99%. AGCO’s dividend payout ratio is currently 7.42%.

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.

See Also

Earnings History and Estimates for AGCO (NYSE:AGCO)

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