AGCO Reaches New 1-Year Low After Analyst Downgrade (AGCO)
Shares of AGCO (NASDAQ:AGCO) hit a new 52-week low during trading on Wednesday after Credit Suisse lowered their price target on the stock from $60.00 to $55.00, Stock Ratings News reports. The company traded as low as $49.23 and last traded at $49.62, with a volume of 1,212,092 shares trading hands. The stock had previously closed at $49.59.
A number of other firms have also recently commented on AGCO. 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 analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $58.31.
The stock’s 50-day moving average is $54.3 and its 200-day moving average is $54.11. The company has a market cap of $4.629 billion and a P/E ratio of 8.46.
AGCO (NASDAQ:AGCO) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $2.15 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. Analysts expect that AGCO will post $5.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, August 13th.
AGCO Corporation (NASDAQ:AGCO) is a manufacturer and distributor of agricultural equipment and related replacement parts globally.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.