Macquarie Reiterates Neutral Rating for AGCO (AGCO)
AGCO (NASDAQ:AGCO)‘s stock had its “neutral” rating reiterated by equities researchers at Macquarie in a research report issued on Wednesday. They currently have a $50.00 target price on the stock, down from their previous target price of $54.00. Macquarie’s price objective suggests a potential upside of 1.40% from the company’s current price.
Shares of AGCO (NASDAQ:AGCO) traded down 0.56% during mid-day trading on Wednesday, hitting $49.31. 2,270,780 shares of the company’s stock traded hands. AGCO has a one year low of $49.36 and a one year high of $64.60. 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 $4.631 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 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 has been the subject of a number of other recent research reports. Analysts at Barclays reiterated an “equal weight” rating on shares of AGCO in a research note on Wednesday. They now have a $55.00 price target on the stock, down previously from $62.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of AGCO in a research note on Wednesday. They now have a $55.00 price target on the stock, down previously from $58.00. Finally, analysts at Credit Suisse cut their price target on shares of AGCO from $60.00 to $55.00 in a research note on Wednesday. They now have a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $57.21.
AGCO Corporation (NASDAQ:AGCO) is a manufacturer and distributor of agricultural equipment and related replacement parts globally.
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