Morningstar Issues “BBB-” Credit Rating to AGCO (AGCO)
AGCO (NASDAQ:AGCO) has received a “BBB-” credit rating from Morningstar. The agency’s “BBB-” rating indicates that the company is a moderate default risk. They also issued a negative credit outlook for the company and gave their stock a three star rating.
AGCO has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. upgraded shares of AGCO from an “underweight” rating to a “neutral” rating in a research note on Friday. They now have a $51.00 price target on the stock, up previously from $50.00. Separately, 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. Finally, 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $55.46.
AGCO (NASDAQ:AGCO) traded up 1.26% during mid-day trading on Monday, hitting $48.84. The stock had a trading volume of 1,327,429 shares. AGCO has a 52 week low of $47.76 and a 52 week high of $64.60. The stock’s 50-day moving average is $50.15 and its 200-day moving average is $53.26. The company has a market cap of $4.581 billion and a P/E ratio of 8.83.
AGCO (NASDAQ:AGCO) last issued its quarterly 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. 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. 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 0.90%. 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.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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