AGCO (NYSE:AGCO) Issues FY24 Earnings Guidance

AGCO (NYSE:AGCO) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of approx $7.50 for the period, compared to the consensus estimate of $7.93. The company issued revenue guidance of approx $12.00 billion, compared to the consensus revenue estimate of $12.43 billion. AGCO also updated its FY 2024 guidance to 7.500-7.500 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AGCO shares. Robert W. Baird lowered their target price on AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group reduced their price target on AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday. UBS Group cut their price objective on shares of AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Barclays dropped their price target on shares of AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a research note on Thursday, July 18th. Finally, Truist Financial increased their price target on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $114.40.

AGCO Stock Down 0.4 %

AGCO stock traded down $0.40 during trading on Thursday, reaching $94.12. 1,010,570 shares of the company’s stock were exchanged, compared to its average volume of 774,428. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 0.94 and a beta of 1.25. The company’s 50-day moving average is $95.67 and its two-hundred day moving average is $99.49. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.72 and a current ratio of 1.52. AGCO has a 52-week low of $84.35 and a 52-week high of $130.26.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 21.17% and a net margin of 3.13%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the firm posted $3.97 EPS. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. On average, analysts predict that AGCO will post 7.87 earnings per share for the current year.

AGCO Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.23%. AGCO’s dividend payout ratio (DPR) is presently 20.71%.

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.