AGCO (NYSE:AGCO) Updates FY24 Earnings Guidance

AGCO (NYSE:AGCO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ~$12.00 for the period, compared to the consensus estimate of $12.84. The company issued revenue guidance of ~$13.5 billion, compared to the consensus revenue estimate of $13.55 billion.

Analyst Ratings Changes

Several research firms have recently weighed in on AGCO. Oppenheimer lowered their price objective on shares of AGCO from $154.00 to $145.00 and set an outperform rating on the stock in a research note on Friday. Truist Financial dropped their price objective on AGCO from $142.00 to $137.00 and set a buy rating on the stock in a research note on Friday. JPMorgan Chase & Co. reduced their target price on AGCO from $150.00 to $135.00 and set an overweight rating for the company in a research note on Friday. Finally, StockNews.com cut AGCO from a buy rating to a hold rating in a research note on Friday, February 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, AGCO currently has an average rating of Moderate Buy and an average target price of $141.83.

AGCO Price Performance

AGCO stock opened at $111.81 on Friday. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 0.70 and a beta of 1.32. The company has a current ratio of 1.99, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72. AGCO has a 12 month low of $105.77 and a 12 month high of $140.46. The stock’s 50 day moving average is $116.61 and its 200-day moving average is $116.88.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.03. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the business earned $3.51 EPS. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. Equities research analysts expect that AGCO will post 12 EPS for the current year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is currently 7.85%.

AGCO Company Profile

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.