Atb Cap Markets Weighs in on Ag Growth International Inc.’s Q2 2024 Earnings (TSE:AFN)

Ag Growth International Inc. (TSE:AFN) – Equities researchers at Atb Cap Markets lowered their Q2 2024 earnings per share estimates for Ag Growth International in a research report issued on Tuesday, April 30th. Atb Cap Markets analyst T. Monachello now anticipates that the company will earn $1.62 per share for the quarter, down from their previous forecast of $1.90. The consensus estimate for Ag Growth International’s current full-year earnings is $5.90 per share. Atb Cap Markets also issued estimates for Ag Growth International’s Q4 2024 earnings at $1.13 EPS, FY2024 earnings at $5.04 EPS, Q1 2025 earnings at $0.82 EPS, Q4 2025 earnings at $1.14 EPS, FY2025 earnings at $5.60 EPS and FY2026 earnings at $7.70 EPS.

Other research analysts also recently issued reports about the company. Scotiabank reduced their target price on Ag Growth International from C$88.00 to C$75.00 and set an “outperform” rating on the stock in a report on Wednesday. Raymond James increased their target price on Ag Growth International from C$64.00 to C$72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. TD Securities lifted their price target on Ag Growth International from C$75.00 to C$83.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Desjardins decreased their price objective on shares of Ag Growth International from C$86.00 to C$78.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, ATB Capital dropped their target price on shares of Ag Growth International from C$85.00 to C$81.00 and set an “outperform” rating for the company in a research note on Tuesday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$78.22.

Ag Growth International Price Performance

Shares of Ag Growth International stock opened at C$50.07 on Friday. The stock has a market capitalization of C$951.83 million, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.30 and a beta of 2.32. The firm’s 50-day moving average price is C$60.49 and its two-hundred day moving average price is C$55.28. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 285.22. Ag Growth International has a 1-year low of C$47.07 and a 1-year high of C$64.51.

Ag Growth International (TSE:AFN) last announced its earnings results on Tuesday, March 5th. The company reported C$1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.08 by C$0.62. Ag Growth International had a net margin of 4.51% and a return on equity of 23.61%. The business had revenue of C$379.32 million during the quarter, compared to analysts’ expectations of C$414.68 million.

Ag Growth International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. Ag Growth International’s payout ratio is presently 17.44%.

Ag Growth International Company Profile

Ag Growth International Inc, together with its subsidiaries, manufactures and sells equipment for the agriculture industry in Canada, the United States, and internationally. It operates through Farm and Commercial segments. The company offers grain, bolted, hopper, and smooth wall bins; temporary storage; unloads and sweeps systems; water tanks; secondary containment systems; fuel tanks; and storage accessories, as well as mixed flow dryers; fans and heaters; aeration products; vents and exhausters; and stirring systems.