Zacks: Analysts Anticipate AGCO Corporation (NYSE:AGCO) Will Announce Quarterly Sales of $2.07 Billion
Analysts expect that AGCO Corporation (NYSE:AGCO) will report $2.07 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for AGCO Corporation’s earnings, with the highest sales estimate coming in at $2.11 billion and the lowest estimate coming in at $2.03 billion. AGCO Corporation posted sales of $2.00 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.5%. The company is scheduled to report its next earnings report on Thursday, August 3rd.
On average, analysts expect that AGCO Corporation will report full-year sales of $2.07 billion for the current financial year, with estimates ranging from $7.63 billion to $7.85 billion. For the next fiscal year, analysts forecast that the firm will report sales of $8.03 billion per share, with estimates ranging from $7.86 billion to $8.15 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow AGCO Corporation.
AGCO Corporation (NYSE:AGCO) last announced its quarterly earnings results on Friday, April 28th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.15. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. AGCO Corporation had a return on equity of 6.55% and a net margin of 1.90%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 EPS.
AGCO has been the subject of several recent research reports. Credit Suisse Group set a $60.00 price target on AGCO Corporation and gave the company a “hold” rating in a research report on Wednesday, April 12th. Seaport Global Securities increased their price target on AGCO Corporation from $57.00 to $61.00 and gave the company a “neutral” rating in a research report on Monday, May 1st. Citigroup Inc. increased their price target on AGCO Corporation from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, May 1st. Bank of America Corporation raised AGCO Corporation from an “underperform” rating to a “neutral” rating in a research report on Monday, June 19th. Finally, Zacks Investment Research raised AGCO Corporation from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, April 11th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $63.43.
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In other AGCO Corporation news, SVP Lucinda B. Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $64.00, for a total transaction of $320,000.00. Following the completion of the sale, the senior vice president now directly owns 40,977 shares of the company’s stock, valued at approximately $2,622,528. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Robinson Smith sold 2,037 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $63.91, for a total value of $130,184.67. Following the sale, the vice president now directly owns 41,717 shares of the company’s stock, valued at $2,666,133.47. The disclosure for this sale can be found here. Company insiders own 16.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in AGCO. FMR LLC raised its position in AGCO Corporation by 25.8% in the fourth quarter. FMR LLC now owns 2,004,163 shares of the industrial products company’s stock valued at $115,961,000 after buying an additional 411,063 shares in the last quarter. Renaissance Technologies LLC raised its position in AGCO Corporation by 84.0% in the fourth quarter. Renaissance Technologies LLC now owns 234,100 shares of the industrial products company’s stock valued at $13,545,000 after buying an additional 106,900 shares in the last quarter. Guggenheim Capital LLC raised its position in AGCO Corporation by 20.5% in the fourth quarter. Guggenheim Capital LLC now owns 64,121 shares of the industrial products company’s stock valued at $3,710,000 after buying an additional 10,917 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in AGCO Corporation by 2.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,203 shares of the industrial products company’s stock valued at $187,000 after buying an additional 62 shares in the last quarter. Finally, United Capital Financial Advisers LLC acquired a new position in AGCO Corporation during the fourth quarter valued at about $221,000. 84.32% of the stock is owned by institutional investors.
Shares of AGCO Corporation (NYSE AGCO) traded down 0.12% during midday trading on Friday, hitting $67.75. The stock had a trading volume of 150,474 shares. The firm’s 50-day moving average is $65.40 and its 200 day moving average is $62.23. The company has a market capitalization of $5.39 billion, a PE ratio of 38.47 and a beta of 0.85. AGCO Corporation has a one year low of $45.47 and a one year high of $68.24.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Monday, May 15th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, May 11th. AGCO Corporation’s dividend payout ratio (DPR) is 32.00%.
About AGCO Corporation
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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