AGCO (NYSE:AGCO) Releases FY24 Earnings Guidance

AGCO (NYSE:AGCO) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of approx $8.00 for the period, compared to the consensus estimate of $10.96. The company issued revenue guidance of approx $12.50 billion, compared to the consensus revenue estimate of $13.11 billion. AGCO also updated its FY 2024 guidance to 8.000-8.000 EPS.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Raymond James started coverage on AGCO in a report on Friday, June 28th. They set a market perform rating on the stock. Robert W. Baird dropped their price objective on AGCO from $139.00 to $129.00 and set an outperform rating on the stock in a research note on Wednesday. Oppenheimer dropped their target price on AGCO from $133.00 to $132.00 and set an outperform rating on the stock in a research report on Monday, July 22nd. The Goldman Sachs Group reduced their target price on AGCO from $127.00 to $112.00 and set a neutral rating on the stock in a research note on Thursday, July 11th. Finally, UBS Group reduced their price objective on AGCO from $107.00 to $104.00 and set a neutral rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, AGCO presently has a consensus rating of Hold and a consensus target price of $122.70.

AGCO Trading Down 1.4 %

NYSE:AGCO traded down $1.31 on Wednesday, hitting $94.92. The stock had a trading volume of 623,912 shares, compared to its average volume of 754,590. The company has a fifty day moving average price of $101.18 and a two-hundred day moving average price of $111.00. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 0.70 and a beta of 1.27. AGCO has a 1-year low of $92.75 and a 1-year high of $136.42. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $2.90 by ($0.37). AGCO had a return on equity of 24.02% and a net margin of 7.90%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the previous year, the company earned $4.29 earnings per share. AGCO’s quarterly revenue was down 15.1% on a year-over-year basis. Equities research analysts expect that AGCO will post 10.95 earnings per share for the current fiscal year.

AGCO Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, August 15th. AGCO’s dividend payout ratio is currently 7.85%.

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.