AGCO (NYSE:AGCO) Issues Quarterly Earnings Results

AGCO (NYSE:AGCO) announced its quarterly earnings data on Monday. The industrial products company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.29 by $0.03, Yahoo Finance reports. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the business earned $3.51 earnings per share. The company’s revenue was down 12.1% on a year-over-year basis.

AGCO Stock Performance

NYSE AGCO opened at $117.08 on Wednesday. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 7.92, a PEG ratio of 0.70 and a beta of 1.32. AGCO has a twelve month low of $105.77 and a twelve month high of $140.46. The stock has a fifty day simple moving average of $116.96 and a 200 day simple moving average of $116.91. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

AGCO Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.29 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a yield of 0.99%. AGCO’s payout ratio is 7.85%.

Wall Street Analysts Forecast Growth

AGCO has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Oppenheimer lowered their price target on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. StockNews.com downgraded shares of AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Truist Financial lowered their price target on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.83.

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.