AGCO Raised to “Neutral” at JPMorgan Chase & Co. (AGCO)
AGCO (NASDAQ:AGCO) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
A number of other firms have also recently commented on AGCO. Analysts at Macquarie downgraded shares of AGCO from a “neutral” rating to an “underperform” rating in a research note on Friday, August 22nd. They now have a $44.00 price target on the stock, down previously from $50.00. Separately, 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. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $55.83.
Shares of AGCO (NASDAQ:AGCO) opened at 48.23 on Friday. AGCO has a one year low of $47.76 and a one year high of $64.60. The stock’s 50-day moving average is $50.37 and its 200-day moving average is $53.27. The company has a market cap of $4.524 billion and a price-to-earnings ratio of 8.89.
AGCO (NASDAQ:AGCO) last released its earnings data on Tuesday, July 29th. The company reported $1.77 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $2.15 earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis. On average, analysts predict that AGCO will post $4.84 earnings per share 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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