AGCO Corporation (AGCO) Updates FY17 Earnings Guidance
AGCO Corporation (NYSE:AGCO) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of approx $3.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.06. The company issued revenue guidance of approx $8.2 billion, compared to the consensus revenue estimate of $7.99 billion.
AGCO Corporation (NYSE AGCO) opened at 71.40 on Tuesday. The stock has a market cap of $5.68 billion, a P/E ratio of 31.22 and a beta of 0.86. The company has a 50 day moving average of $72.51 and a 200-day moving average of $68.34. AGCO Corporation has a 12-month low of $48.93 and a 12-month high of $75.58.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.14 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.78%. AGCO Corporation’s payout ratio is 24.56%.
AGCO has been the topic of a number of recent analyst reports. William Blair upgraded AGCO Corporation from a market perform rating to an outperform rating in a research report on Tuesday, July 11th. BidaskClub upgraded AGCO Corporation from a buy rating to a strong-buy rating in a report on Wednesday, July 19th. TheStreet raised AGCO Corporation from a c+ rating to a b+ rating in a research note on Thursday, July 27th. UBS AG reaffirmed a neutral rating and issued a $73.00 target price (up from $68.00) on shares of AGCO Corporation in a research note on Monday, July 31st. Finally, BMO Capital Markets raised their target price on AGCO Corporation from $70.00 to $75.00 and gave the stock a market perform rating in a research note on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. AGCO Corporation currently has an average rating of Hold and an average target price of $68.29.
In other news, CFO Andrew H. Beck sold 10,000 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $72.18, for a total value of $721,800.00. Following the completion of the sale, the chief financial officer now owns 142,079 shares in the company, valued at $10,255,262.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Lucinda B. Smith sold 1,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $73.00, for a total value of $73,000.00. Following the completion of the sale, the senior vice president now owns 38,877 shares of the company’s stock, valued at approximately $2,838,021. The disclosure for this sale can be found here. Insiders have sold 11,750 shares of company stock worth $844,690 over the last quarter. 16.60% of the stock is currently owned by company insiders.
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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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