AGCO Co. (NYSE:AGCO) Plans $0.29 Quarterly Dividend

AGCO Co. (NYSE:AGCO) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.29 per share by the industrial products company on Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%.

AGCO has increased its dividend by an average of 15.1% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. AGCO has a payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect AGCO to earn $4.22 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 27.5%.

AGCO Price Performance

Shares of AGCO stock traded up $2.64 on Thursday, reaching $100.00. The company’s stock had a trading volume of 497,662 shares, compared to its average volume of 744,346. 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 capitalization of $7.46 billion, a P/E ratio of 44.25, a PEG ratio of 0.90 and a beta of 1.25. The stock has a 50-day moving average price of $95.15 and a 200-day moving average price of $94.89. 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). The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. AGCO had a net margin of 1.35% and a return on equity of 15.79%. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.97 earnings per share. Analysts expect that AGCO will post 7.34 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Oppenheimer cut their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Citigroup reduced their price objective on AGCO from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of AGCO from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group decreased their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, AGCO currently has a consensus rating of “Hold” and a consensus target price of $107.40.

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.