Brokerages expect AGCO Co. (NYSE:AGCO) to announce sales of $2.55 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for AGCO’s earnings. The highest sales estimate is $2.61 billion and the lowest is $2.53 billion. AGCO reported sales of $2.54 billion in the same quarter last year, which indicates a positive year over year growth rate of 0.4%. The firm is expected to issue its next earnings report on Tuesday, July 30th.
On average, analysts expect that AGCO will report full-year sales of $9.52 billion for the current financial year, with estimates ranging from $9.47 billion to $9.58 billion. For the next year, analysts forecast that the company will report sales of $9.91 billion, with estimates ranging from $9.73 billion to $10.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow AGCO.
AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.44. AGCO had a return on equity of 11.62% and a net margin of 3.49%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The company’s revenue was down .6% on a year-over-year basis.
AGCO has been the topic of a number of recent research reports. Deutsche Bank set a $76.00 target price on AGCO and gave the company a “buy” rating in a research report on Friday, March 8th. ValuEngine upgraded AGCO from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Zacks Investment Research upgraded AGCO from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday, April 16th. Jefferies Financial Group upgraded AGCO from a “hold” rating to a “buy” rating and upped their target price for the company from $70.00 to $90.00 in a research report on Monday, June 24th. Finally, UBS Group upped their target price on AGCO from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $73.17.
In other news, SVP Robert B. Crain sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $72.86, for a total transaction of $1,821,500.00. Following the completion of the transaction, the senior vice president now directly owns 81,914 shares of the company’s stock, valued at approximately $5,968,254.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Martin Richenhagen sold 102,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $70.19, for a total value of $7,159,380.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,000 shares of company stock worth $19,869,380. Insiders own 17.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of AGCO by 116.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 771 shares of the industrial products company’s stock worth $43,000 after buying an additional 415 shares during the period. JOYN Advisors Inc. raised its stake in AGCO by 109.5% in the 4th quarter. JOYN Advisors Inc. now owns 857 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 448 shares during the last quarter. Investors Research Corp acquired a new position in AGCO in the 1st quarter valued at $94,000. Quadrant Capital Group LLC raised its stake in AGCO by 83.7% in the 1st quarter. Quadrant Capital Group LLC now owns 1,488 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 678 shares during the last quarter. Finally, Private Capital Group LLC raised its stake in AGCO by 51.3% in the 1st quarter. Private Capital Group LLC now owns 1,652 shares of the industrial products company’s stock valued at $115,000 after purchasing an additional 560 shares during the last quarter. 80.87% of the stock is owned by institutional investors and hedge funds.
Shares of AGCO stock traded down $0.28 during trading hours on Tuesday, reaching $77.57. 722,014 shares of the company’s stock were exchanged, compared to its average volume of 584,151. AGCO has a 1 year low of $49.50 and a 1 year high of $78.45. The stock has a market cap of $5.96 billion, a PE ratio of 19.94, a PEG ratio of 1.17 and a beta of 0.89. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.54 and a current ratio of 1.30. The firm has a fifty day moving average price of $70.67.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Tuesday, May 14th. This is a positive change from AGCO’s previous quarterly dividend of $0.15. AGCO’s dividend payout ratio is currently 16.45%.
AGCO Company Profile
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.
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