Equities analysts forecast that AGCO Co. (NYSE:AGCO) will report sales of $1.68 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for AGCO’s earnings, with the lowest sales estimate coming in at $1.56 billion and the highest estimate coming in at $1.86 billion. AGCO posted sales of $2.42 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 30.6%. The firm is scheduled to issue its next earnings results on Tuesday, August 4th.
According to Zacks, analysts expect that AGCO will report full-year sales of $7.77 billion for the current fiscal year, with estimates ranging from $7.47 billion to $8.21 billion. For the next financial year, analysts forecast that the company will post sales of $8.46 billion, with estimates ranging from $7.76 billion to $8.85 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover AGCO.
AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, May 5th. The industrial products company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.44. AGCO had a return on equity of 11.59% and a net margin of 1.39%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company earned $0.86 earnings per share. The business’s revenue for the quarter was down 3.4% on a year-over-year basis.
A number of equities research analysts recently issued reports on the company. Deutsche Bank downgraded AGCO from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley lowered their price objective on AGCO from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Monday, April 13th. JPMorgan Chase & Co. lowered their price target on AGCO from $62.00 to $57.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Wells Fargo & Co lowered their price target on AGCO from $54.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. Finally, Goldman Sachs Group lowered their price target on AGCO from $70.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, March 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $72.23.
Shares of AGCO stock traded up $0.96 on Thursday, reaching $55.46. The company’s stock had a trading volume of 744,099 shares, compared to its average volume of 599,695. The company has a quick ratio of 0.63, a current ratio of 1.49 and a debt-to-equity ratio of 0.67. AGCO has a 12-month low of $35.33 and a 12-month high of $81.39. The company has a market capitalization of $4.08 billion, a P/E ratio of 34.66, a PEG ratio of 6.23 and a beta of 1.11. The stock’s 50 day simple moving average is $54.13 and its 200-day simple moving average is $60.18.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. AGCO’s payout ratio is presently 14.41%.
In other AGCO news, CAO Lara Thrush Long sold 2,200 shares of AGCO stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $56.55, for a total transaction of $124,410.00. Following the sale, the chief accounting officer now directly owns 3,494 shares of the company’s stock, valued at approximately $197,585.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.80% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its position in shares of AGCO by 5.9% during the 4th quarter. Victory Capital Management Inc. now owns 3,233,809 shares of the industrial products company’s stock valued at $249,811,000 after buying an additional 180,919 shares in the last quarter. Natixis Advisors L.P. raised its position in shares of AGCO by 5.9% during the 4th quarter. Natixis Advisors L.P. now owns 18,570 shares of the industrial products company’s stock valued at $1,435,000 after buying an additional 1,034 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of AGCO during the 4th quarter valued at about $407,000. Banque Cantonale Vaudoise purchased a new stake in shares of AGCO during the 4th quarter valued at about $241,000. Finally, Employees Retirement System of Texas raised its position in shares of AGCO by 44.8% during the 4th quarter. Employees Retirement System of Texas now owns 19,400 shares of the industrial products company’s stock valued at $1,499,000 after buying an additional 6,000 shares in the last quarter. Institutional investors own 78.74% of the company’s stock.
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.
Further Reading: Diluted Earnings Per Share
Get a free copy of the Zacks research report on AGCO (AGCO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AGCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AGCO and related companies with MarketBeat.com's FREE daily email newsletter.