AGCO (AGCO) to Release Quarterly Earnings on Thursday

AGCO (NYSE:AGCO) is expected to be issuing its quarterly earnings data before the market opens on Thursday, February 6th. Analysts expect the company to announce earnings of $2.01 per share and revenue of $3.17 billion for the quarter. AGCO has set its FY 2024 guidance at 7.500-7.500 EPS and its FY24 guidance at approx $7.50 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the company posted $3.97 EPS. The firm’s quarterly revenue was down 24.8% on a year-over-year basis. On average, analysts expect AGCO to post $7 EPS for the current fiscal year and $4 EPS for the next fiscal year.

AGCO Stock Down 0.8 %

AGCO stock opened at $104.12 on Thursday. AGCO has a twelve month low of $84.35 and a twelve month high of $130.26. The company has a quick ratio of 0.72, a current ratio of 1.53 and a debt-to-equity ratio of 0.87. The company has a market cap of $7.77 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 1.03 and a beta of 1.25. The business’s 50-day simple moving average is $97.45 and its 200 day simple moving average is $95.45.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Friday, February 14th. AGCO’s payout ratio is presently 51.33%.

Analyst Ratings Changes

Several brokerages recently commented on AGCO. Truist Financial raised their target price on AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley started coverage on shares of AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of AGCO from $102.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Oppenheimer raised their price target on shares of AGCO from $108.00 to $109.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Citigroup lowered their price objective on AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.20.

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.