Credit Suisse Reiterates “Hold” Rating for AGCO (AGCO)
AGCO (NASDAQ:AGCO)‘s stock had its “hold” rating restated by investment analysts at Credit Suisse in a note issued to investors on Wednesday. They currently have a $55.00 price objective on the stock, down from their previous price objective of $60.00. Credit Suisse’s price objective points to a potential upside of 11.54% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of AGCO in a research note on Wednesday, July 9th. They now have a $50.00 price target on the stock, down previously from $55.00. Analysts at Global Hunter Securities initiated coverage on shares of AGCO in a research note on Thursday, June 19th. They set a “neutral” rating and a $58.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. AGCO has a consensus rating of “Hold” and a consensus target price of $57.21.
AGCO (NASDAQ:AGCO) opened at 49.31 on Wednesday. AGCO has a one year low of $49.07 and a one year high of $64.60. The stock’s 50-day moving average is $54.25 and its 200-day moving average is $54.07. The company has a market cap of $4.631 billion and a P/E ratio of 8.46.
AGCO (NASDAQ:AGCO) last announced its earnings results on Tuesday, July 29th. The company reported $1.77 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.70 by $0.07. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the company posted $2.15 earnings per share. AGCO’s revenue was down 9.8% compared to the same quarter last year. On average, analysts predict that AGCO will post $5.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Wednesday, August 13th.
AGCO Corporation (NASDAQ:AGCO) is a manufacturer and distributor of agricultural equipment and related replacement parts globally.
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