Macquarie Lowers AGCO to Underperform (AGCO)
AGCO (NASDAQ:AGCO) was downgraded by research analysts at Macquarie from a “neutral” rating to an “underperform” rating in a report released on Friday, TheFlyOnTheWall.com reports. They currently have a $44.00 target price on the stock, down from their previous target price of $50.00. Macquarie’s price objective suggests a potential downside of 10.64% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated an “underperform” rating on shares of AGCO in a research note on Friday, August 1st. They now have a $44.00 price target on the stock. Separately, analysts at BMO Capital Markets cut their price target on shares of AGCO from $50.00 to $46.00 in a research note on Thursday, July 31st. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of AGCO in a research note on Wednesday, July 30th. They now have a $55.00 price target on the stock, down previously from $62.00. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $55.38.
AGCO (NASDAQ:AGCO) opened at 49.24 on Friday. AGCO has a 1-year low of $47.76 and a 1-year high of $64.60. The stock’s 50-day moving average is $51.10 and its 200-day moving average is $53.38. The company has a market cap of $4.618 billion and a P/E ratio of 8.95.
AGCO (NASDAQ:AGCO) last released its earnings data 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 $4.85 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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