AGCO (NYSE:AGCO – Get Free Report) announced its earnings results on Tuesday. The industrial products company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37), Briefing.com reports. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.48 billion. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period last year, the company earned $4.29 earnings per share. AGCO updated its FY24 guidance to approx $8.00 EPS and its FY 2024 guidance to 8.000-8.000 EPS.
AGCO Price Performance
NYSE:AGCO traded down $1.77 during trading hours on Wednesday, reaching $94.46. 1,368,229 shares of the company traded hands, compared to its average volume of 759,688. The firm’s 50-day moving average is $101.18 and its 200-day moving average is $111.00. The stock has a market cap of $7.05 billion, a P/E ratio of 6.42, a P/E/G ratio of 0.70 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 1.09. AGCO has a 1-year low of $92.75 and a 1-year high of $136.42.
AGCO Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, August 15th. AGCO’s payout ratio is currently 7.85%.
Analysts Set New Price Targets
Check Out Our Latest Stock Analysis on AGCO
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.
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