AGCO Co. (NYSE:AGCO) – Investment analysts at Jefferies Financial Group dropped their Q4 2019 earnings estimates for shares of AGCO in a report released on Monday, June 24th, according to Zacks Investment Research. Jefferies Financial Group analyst S. Volkmann now anticipates that the industrial products company will earn $1.43 per share for the quarter, down from their prior forecast of $1.44. Jefferies Financial Group has a “Buy” rating and a $90.00 price target on the stock. Jefferies Financial Group also issued estimates for AGCO’s FY2020 earnings at $5.55 EPS and FY2021 earnings at $5.95 EPS.
A number of other research analysts have also weighed in on AGCO. Royal Bank of Canada set a €86.00 ($100.00) price target on shares of Henkel AG & Co KGaA and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Zacks Investment Research lowered shares of Great Portland Estates from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Morgan Stanley set a $226.00 price target on shares of S&P Global and gave the company a “hold” rating in a research report on Friday, May 3rd. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Co reissued a “buy” rating and set a $85.00 price target on shares of Carvana in a research report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $74.46.
AGCO opened at $75.18 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.30 and a quick ratio of 0.54. The firm’s 50-day moving average price is $72.45. AGCO has a fifty-two week low of $49.50 and a fifty-two week high of $79.00. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.18 and a beta of 0.98.
AGCO (NYSE:AGCO) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.44. AGCO had a net margin of 3.49% and a return on equity of 11.62%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its stake in AGCO by 310.9% during the fourth quarter. Millennium Management LLC now owns 1,204,363 shares of the industrial products company’s stock valued at $67,047,000 after acquiring an additional 911,239 shares in the last quarter. Norges Bank purchased a new position in AGCO during the fourth quarter valued at approximately $32,833,000. FMR LLC grew its stake in AGCO by 29.1% during the first quarter. FMR LLC now owns 1,370,072 shares of the industrial products company’s stock valued at $95,288,000 after acquiring an additional 309,101 shares in the last quarter. Turiya Advisors Asia Ltd purchased a new position in AGCO during the first quarter valued at approximately $20,517,000. Finally, Nuveen Asset Management LLC purchased a new position in AGCO during the fourth quarter valued at approximately $11,508,000. Hedge funds and other institutional investors own 80.87% of the company’s stock.
In other news, Chairman Martin Richenhagen sold 51,000 shares of AGCO stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $70.43, for a total value of $3,591,930.00. Following the completion of the transaction, the chairman now owns 503,733 shares in the company, valued at $35,477,915.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert B. Crain sold 25,000 shares of AGCO stock in a transaction dated 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 owns 81,914 shares of the company’s stock, valued at approximately $5,968,254.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,000 shares of company stock worth $12,710,000. Insiders own 17.60% of the company’s stock.
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 is a positive change from AGCO’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.64 annualized dividend and a yield of 0.85%. AGCO’s payout ratio is currently 16.45%.
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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