AGCO (NYSE:AGCO) Posts Earnings Results, Misses Estimates By $0.40 EPS

AGCO (NYSE:AGCO) announced its earnings results on Tuesday. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40), Briefing.com reports. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. AGCO had a net margin of 3.13% and a return on equity of 21.17%. AGCO’s revenue was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.97 EPS. AGCO updated its FY 2024 guidance to 7.500-7.500 EPS and its FY24 guidance to approx $7.50 EPS.

AGCO Trading Down 1.2 %

AGCO stock opened at $93.00 on Friday. AGCO has a one year low of $84.35 and a one year high of $130.26. The business’s fifty day moving average is $95.67 and its 200 day moving average is $99.49. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 0.72. The stock has a market capitalization of $6.94 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 0.93 and a beta of 1.25.

AGCO Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 1.25%. AGCO’s dividend payout ratio (DPR) is presently 20.71%.

Analyst Upgrades and Downgrades

AGCO has been the topic of several recent research reports. Robert W. Baird reduced 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. StockNews.com cut AGCO from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their target price on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Citigroup increased their target price on AGCO from $88.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Truist Financial increased their target price on AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, AGCO currently has a consensus rating of “Hold” and an average price target of $114.40.

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.