AGCO Co. (NYSE:AGCO) Declares Quarterly Dividend of $0.29

AGCO Co. (NYSE:AGCO) announced a quarterly dividend on Thursday, July 11th, Wall Street Journal reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.29 per share by the industrial products company on Monday, September 16th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, August 15th.

AGCO has a payout ratio of 9.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect AGCO to earn $11.28 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 10.3%.

AGCO Stock Performance

NYSE:AGCO opened at $98.05 on Friday. The firm has a market capitalization of $7.32 billion, a PE ratio of 6.63, a price-to-earnings-growth ratio of 0.62 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. The business’s fifty day moving average price is $104.41 and its 200 day moving average price is $112.83. AGCO has a 12 month low of $92.75 and a 12 month high of $140.46.

AGCO (NYSE:AGCO) last issued its earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.03. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The business’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter last year, the company earned $3.51 EPS. On average, sell-side analysts anticipate that AGCO will post 11.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AGCO shares. JPMorgan Chase & Co. lowered their target price on shares of AGCO from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, June 28th. Oppenheimer cut their target price on AGCO from $145.00 to $133.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 12th. The Goldman Sachs Group reduced their target price on AGCO from $127.00 to $112.00 and set a “neutral” rating for the company in a report on Thursday. Citigroup assumed coverage on AGCO in a research note on Wednesday, June 26th. They set a “neutral” rating and a $108.00 price target on the stock. Finally, Raymond James started coverage on AGCO in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.14.

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.