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

AGCO (NYSE:AGCO) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.40), Briefing.com reports. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The firm 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 company posted $3.97 earnings per share. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. AGCO updated its FY 2024 guidance to 7.500-7.500 EPS and its FY24 guidance to approx $7.50 EPS.

AGCO Price Performance

Shares of AGCO stock traded up $3.10 during trading hours on Wednesday, reaching $93.33. The stock had a trading volume of 263,387 shares, compared to its average volume of 764,734. The stock’s 50 day moving average is $95.52 and its 200 day moving average is $99.57. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. AGCO has a twelve month low of $84.35 and a twelve month high of $130.26. The firm has a market capitalization of $6.97 billion, a PE ratio of 16.11, a PEG ratio of 0.94 and a beta of 1.25.

AGCO Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.29 dividend. 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 1.24%. AGCO’s payout ratio is 20.71%.

Analyst Ratings Changes

Several research firms have issued reports on AGCO. Oppenheimer lowered their price objective on shares of AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research report on Wednesday. Barclays lowered their price target on AGCO from $145.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, July 18th. JPMorgan Chase & Co. reduced their price objective on AGCO from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. StockNews.com cut AGCO from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, UBS Group cut their price target on AGCO from $107.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, AGCO has a consensus rating of “Hold” and a consensus price target of $115.70.

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.