AGCO Price Target Cut to $46.00 by Analysts at BMO Capital Markets (AGCO)
Research analysts at BMO Capital Markets lowered their price objective on shares of AGCO (NASDAQ:AGCO) from $50.00 to $46.00 in a report released on Thursday. BMO Capital Markets’ price target suggests a potential downside of 4.62% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie reiterated a “neutral” rating on shares of AGCO in a research note on Wednesday. They now have a $50.00 price target on the stock, down previously from $54.00. Separately, 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. Finally, 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. AGCO has a consensus rating of “Hold” and a consensus price target of $56.50.
Shares of AGCO (NASDAQ:AGCO) traded down 0.99% on Thursday, hitting $48.23. 2,058,876 shares of the company’s stock traded hands. AGCO has a 1-year low of $47.94 and a 1-year high of $64.60. The stock has a 50-day moving average of $53.85 and a 200-day moving average of $53.98. The company has a market cap of $4.529 billion and a price-to-earnings ratio of 8.92.
AGCO (NASDAQ:AGCO) last released its earnings data 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 $4.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors 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 0.91%. 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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