AGCO Corp. Downgraded to “Market Perform” at BMO Capital Markets (AGCO)
AGCO Corp. (NASDAQ:AGCO) was downgraded by equities researchers at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $50.00 price objective on the stock, down from their previous price objective of $65.00. BMO Capital Markets’ target price would indicate a potential downside of 0.89% from the company’s current price.
A number of other analysts have also recently weighed in on AGCO. Analysts at Zacks downgraded shares of AGCO Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday, January 22nd. They now have a $51.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. downgraded shares of AGCO Corp. from a “neutral” rating to an “underweight” rating in a research note to investors on Thursday, January 16th. Finally, analysts at Goldman Sachs Group Inc. cut their EPS estimates on shares of AGCO Corp. in a research note on Wednesday. They now have a “conviction-buy” rating and a $57.00 price target on the stock. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $61.91.
AGCO Corp. (NASDAQ:AGCO) traded down 2.83% during mid-day trading on Wednesday, hitting $50.45. 3,642,110 shares of the company’s stock traded hands. AGCO Corp. has a one year low of $47.29 and a one year high of $64.60. The stock’s 50-day moving average is $56.24 and its 200-day moving average is $58.18. The company has a market cap of $4.912 billion and a P/E ratio of 9.17.
AGCO Corp. (NASDAQ:AGCO) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.34 by $0.06. The company had revenue of $2.00 million for the quarter, compared to the consensus estimate of $2.85 million. During the same quarter in the prior year, the company posted $1.04 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts expect that AGCO Corp. will post $5.71 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 14th. Investors of record on Friday, February 14th will be paid a dividend of 0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Wednesday, February 12th. This is an increase from AGCO Corp.’s previous quarterly dividend of $0.10.
AGCO Corporation (NASDAQ:AGCO) is a manufacturer and distributor of agricultural equipment and related replacement parts globally.
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