AGCO (NYSE:AGCO) Updates FY24 Earnings Guidance

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of AGCO from a buy rating to a hold rating in a research report on Friday, February 9th. JPMorgan Chase & Co. upped their price objective on shares of AGCO from $145.00 to $150.00 and gave the stock an overweight rating in a research report on Friday, April 12th. Oppenheimer upped their price objective on shares of AGCO from $153.00 to $154.00 and gave the stock an outperform rating in a research report on Tuesday, April 16th. Finally, Truist Financial started coverage on shares of AGCO in a research report on Thursday, March 14th. They set a buy rating and a $142.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, AGCO has an average rating of Moderate Buy and an average target price of $150.50.

AGCO Trading Down 1.8 %

Shares of AGCO stock opened at $112.14 on Thursday. The firm has a market cap of $8.37 billion, a P/E ratio of 7.17, a PEG ratio of 0.65 and a beta of 1.32. AGCO has a 1-year low of $105.77 and a 1-year high of $140.46. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.46 and a quick ratio of 0.67. The firm’s 50-day simple moving average is $116.47 and its 200-day simple moving average is $117.00.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 EPS for the quarter, missing the consensus estimate of $4.03 by ($0.25). AGCO had a net margin of 8.13% and a return on equity of 26.96%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the previous year, the business posted $4.47 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, equities analysts forecast that AGCO will post 13.06 EPS for the current year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.03%. The ex-dividend date is Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is 7.42%.

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.