AGCO Corp. Coverage Initiated at Deutsche Bank (AGCO)
Analysts at Deutsche Bank started coverage on shares of AGCO Corp. (NASDAQ:AGCO) in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $60.00 price target on the stock. Deutsche Bank’s target price points to a potential upside of 16.19% from the company’s current price.
A number of other firms have also recently commented on AGCO. Analysts at UBS AG cut their price target on shares of AGCO Corp. from $58.00 to $55.00 in a research note on Wednesday, February 5th. They now have a “neutral” rating on the stock. Separately, analysts at BMO Capital Markets downgraded shares of AGCO Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 5th. They now have a $50.00 price target on the stock, down previously from $65.00. Finally, analysts at Zacks downgraded shares of AGCO Corp. from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 22nd. They now have a $51.00 price target on the stock. Four analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.75.
Shares of AGCO Corp. (NASDAQ:AGCO) opened at 51.64 on Thursday. AGCO Corp. has a 1-year low of $47.29 and a 1-year high of $64.60. The stock has a 50-day moving average of $53.96 and a 200-day moving average of $57.79. The company has a market cap of $5.030 billion and a price-to-earnings ratio of 8.69.
AGCO Corp. (NASDAQ:AGCO) last released its earnings data on Tuesday, February 4th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts predict that AGCO Corp. will post $5.53 earnings per share 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 0.85%. 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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