AGCO Co. (NYSE:AGCO) to Post Q2 2024 Earnings of $3.56 Per Share, William Blair Forecasts

AGCO Co. (NYSE:AGCOFree Report) – Equities research analysts at William Blair issued their Q2 2024 EPS estimates for shares of AGCO in a research note issued to investors on Tuesday, February 6th. William Blair analyst L. De. Maria forecasts that the industrial products company will earn $3.56 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 Q3 2024 earnings at $3.18 EPS and FY2025 earnings at $14.00 EPS.

Several other research analysts have also recently commented on the stock. Oppenheimer restated an “outperform” rating and issued a $153.00 target price on shares of AGCO in a research report on Wednesday, December 6th. Citigroup decreased their price objective on shares of AGCO from $152.00 to $150.00 and set a “buy” rating for the company in a report on Friday, October 13th. JPMorgan Chase & Co. increased their price objective on shares of AGCO from $142.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, December 4th. Stifel Nicolaus decreased their price objective on shares of AGCO from $160.00 to $153.00 and set a “buy” rating for the company in a report on Tuesday, December 19th. Finally, StockNews.com cut shares of AGCO from a “buy” rating to a “hold” rating in a report on Friday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, AGCO currently has an average rating of “Moderate Buy” and an average target price of $147.56.

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AGCO Price Performance

NYSE AGCO opened at $117.42 on Thursday. AGCO has a 52 week low of $109.81 and a 52 week high of $145.53. The company has a current ratio of 1.46, a quick ratio of 0.72 and a debt-to-equity ratio of 0.30. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 1.45 and a beta of 1.35. The company has a 50-day moving average price of $119.77 and a two-hundred day moving average price of $120.46.

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

AGCO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 15th will be issued 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 0.99%. AGCO’s dividend payout ratio is currently 7.42%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP grew its position in 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 purchasing an additional 139 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in AGCO in the 4th quarter worth $26,000. FinTrust Capital Advisors LLC acquired a new stake in AGCO in the 3rd quarter worth $26,000. Legacy Financial Group LLC acquired a new stake in AGCO in the 3rd quarter worth $27,000. Finally, Point72 Asset Management L.P. acquired a new stake in AGCO in the 2nd quarter worth $36,000. 75.39% of the stock is currently owned by institutional investors and hedge funds.

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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