AGCO (NYSE:AGCO) Releases FY24 Earnings Guidance

AGCO (NYSE:AGCO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ~$12.00 for the period, compared to the consensus estimate of $12.84. The company issued revenue guidance of ~$13.5 billion, compared to the consensus revenue estimate of $13.55 billion.

AGCO Trading Up 1.1 %

Shares of AGCO opened at $111.81 on Friday. The stock has a market capitalization of $8.34 billion, a P/E ratio of 7.56, a PEG ratio of 0.70 and a beta of 1.32. The company has a quick ratio of 0.67, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $116.61 and a two-hundred day simple moving average of $116.88. AGCO has a twelve month low of $105.77 and a twelve month high of $140.46.

AGCO (NYSE:AGCO) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 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 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.51 EPS. On average, research analysts anticipate that AGCO will post 12 EPS for the current year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 annualized dividend and a yield of 1.04%. AGCO’s payout ratio is currently 7.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AGCO shares. Truist Financial dropped their target price on shares of AGCO from $142.00 to $137.00 and set a buy rating for the company in a research report on Friday. JPMorgan Chase & Co. dropped their target price on shares of AGCO from $150.00 to $135.00 and set an overweight rating for the company in a research report on Friday. Oppenheimer dropped their target price on shares of AGCO from $154.00 to $145.00 and set an outperform rating for the company in a research report on Friday. Finally, StockNews.com cut shares of AGCO from a buy rating to a hold rating in a research report on Friday, February 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $141.83.

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.