AGI (NYSE:AGBK) Announces Earnings Results

AGI (NYSE:AGBK) issued its earnings results on Tuesday. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01, Zacks reports.

AGI Trading Down 3.4%

AGBK stock traded down $0.23 during midday trading on Tuesday, reaching $6.58. 1,182,679 shares of the company’s stock traded hands, compared to its average volume of 639,123. The stock’s 50-day moving average is $8.83. The company has a market cap of $1.05 billion and a PE ratio of 131.56. AGI has a 52-week low of $6.42 and a 52-week high of $12.21.

Wall Street Analysts Forecast Growth

AGBK has been the subject of several research reports. HSBC initiated coverage on shares of AGI in a report on Thursday, March 5th. They set a “buy” rating and a $15.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of AGI in a research report on Monday, March 9th. They issued a “buy” rating and a $19.00 target price for the company. Oppenheimer started coverage on AGI in a report on Monday, March 9th. They set an “outperform” rating and a $15.00 price target on the stock. Wall Street Zen upgraded AGI to a “hold” rating in a research note on Saturday, February 21st. Finally, Citigroup started coverage on AGI in a research report on Monday, March 9th. They set a “buy” rating and a $18.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.14.

About AGI

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.