AGCO Co. (AGCO) to Issue Quarterly Dividend of $0.29 on June 14th

AGCO Co. (NYSE:AGCO) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.29 per share by the industrial products company on Friday, June 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Tuesday, May 14th.

AGCO has raised its dividend payment by an average of 20.2% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. AGCO has a payout ratio of 9.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AGCO to earn $12.61 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 9.2%.

AGCO Stock Down 0.9 %

Shares of AGCO stock traded down $1.06 on Friday, reaching $116.61. 664,104 shares of the company’s stock traded hands, compared to its average volume of 583,150. AGCO has a 12-month low of $105.77 and a 12-month high of $140.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.67 and a current ratio of 1.46. The company has a market capitalization of $8.70 billion, a P/E ratio of 7.46, a price-to-earnings-growth ratio of 0.67 and a beta of 1.31. The business’s 50 day moving average price is $116.03 and its two-hundred day moving average price is $117.16.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). AGCO had a net margin of 8.13% and a return on equity of 26.96%. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the firm posted $4.47 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that AGCO will post 13.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AGCO. StockNews.com lowered AGCO from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Truist Financial began coverage on AGCO in a research report on Thursday, March 14th. They issued a “buy” rating and a $142.00 target price on the stock. Oppenheimer upped their target price on AGCO from $153.00 to $154.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. upped their target price on AGCO from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $150.50.

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.