AGCO (NYSE:AGCO) Updates FY24 Earnings Guidance

AGCO (NYSE:AGCO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of approx $7.50 for the period, compared to the consensus estimate of $7.93. The company issued revenue guidance of approx $12.00 billion, compared to the consensus revenue estimate of $12.43 billion. AGCO also updated its FY 2024 guidance to 7.500-7.500 EPS.

Analyst Ratings Changes

A number of brokerages recently issued reports on AGCO. StockNews.com downgraded AGCO from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Robert W. Baird dropped their price target on AGCO from $139.00 to $129.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Oppenheimer reduced their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, UBS Group reduced their price target on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $114.40.

AGCO Stock Down 1.2 %

Shares of NYSE AGCO opened at $93.00 on Friday. The firm’s 50 day moving average price is $95.67 and its 200 day moving average price is $99.49. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. AGCO has a 1 year low of $84.35 and a 1 year high of $130.26. The firm has a market cap of $6.94 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 0.93 and a beta of 1.25.

AGCO (NYSE:AGCO) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. AGCO’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.97 earnings per share. As a group, sell-side analysts anticipate that AGCO will post 7.87 earnings per share for the current year.

AGCO Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, November 15th. AGCO’s dividend payout ratio is presently 20.71%.

About AGCO

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.