AGCO Co. (NYSE:AGCO) Expected to Announce Quarterly Sales of $2.27 Billion

Equities analysts expect AGCO Co. (NYSE:AGCO) to post sales of $2.27 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for AGCO’s earnings, with estimates ranging from $2.26 billion to $2.29 billion. AGCO posted sales of $2.21 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 2.7%. The company is scheduled to report its next quarterly earnings report on Tuesday, October 29th.

On average, analysts expect that AGCO will report full-year sales of $9.42 billion for the current financial year, with estimates ranging from $9.36 billion to $9.58 billion. For the next financial year, analysts expect that the business will post sales of $9.79 billion, with estimates ranging from $9.58 billion to $10.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for AGCO.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.55 billion. AGCO had a return on equity of 12.64% and a net margin of 4.07%. AGCO’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 EPS.

AGCO has been the topic of a number of recent research reports. Credit Suisse Group reissued a “neutral” rating and set a $83.00 price target (up previously from $70.00) on shares of AGCO in a research report on Wednesday, July 31st. Jefferies Financial Group raised AGCO from a “hold” rating to a “buy” rating and increased their price target for the stock from $70.00 to $90.00 in a research report on Monday, June 24th. Stifel Nicolaus set a $79.00 price target on AGCO and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Stephens initiated coverage on AGCO in a research report on Wednesday. They set an “overweight” rating and a $80.00 price target on the stock. Finally, Royal Bank of Canada set a $88.00 price target on AGCO and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $77.07.

In related news, CAO Lara Thrush Long sold 2,326 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $73.05, for a total transaction of $169,914.30. Following the sale, the chief accounting officer now owns 3,991 shares of the company’s stock, valued at $291,542.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Richard Robinson Smith sold 4,651 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $72.77, for a total value of $338,453.27. Following the sale, the vice president now directly owns 90,796 shares in the company, valued at approximately $6,607,224.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,977 shares of company stock worth $8,707,768. 17.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of AGCO. FMR LLC raised its stake in AGCO by 7.3% in the 4th quarter. FMR LLC now owns 1,060,971 shares of the industrial products company’s stock worth $59,065,000 after purchasing an additional 72,593 shares in the last quarter. Norges Bank acquired a new stake in AGCO in the 4th quarter worth about $32,833,000. Geode Capital Management LLC raised its stake in AGCO by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 1,239,289 shares of the industrial products company’s stock worth $68,991,000 after purchasing an additional 45,469 shares in the last quarter. State of Alaska Department of Revenue raised its stake in AGCO by 35.3% in the 1st quarter. State of Alaska Department of Revenue now owns 9,420 shares of the industrial products company’s stock worth $654,000 after purchasing an additional 2,460 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in AGCO in the 1st quarter worth about $659,000. 79.27% of the stock is currently owned by institutional investors.

AGCO stock traded up $1.90 during mid-day trading on Friday, hitting $67.55. The company’s stock had a trading volume of 812,500 shares, compared to its average volume of 728,212. The company has a 50 day moving average of $74.88 and a 200-day moving average of $70.62. The stock has a market cap of $4.89 billion, a PE ratio of 17.37, a P/E/G ratio of 0.94 and a beta of 0.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 1.29. AGCO has a one year low of $49.50 and a one year high of $80.64.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Wednesday, August 14th. AGCO’s payout ratio is currently 16.45%.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

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Earnings History and Estimates for AGCO (NYSE:AGCO)

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