Brokerages Anticipate AGCO Corporation (AGCO) Will Announce Quarterly Sales of $1.91 Billion
Wall Street brokerages expect AGCO Corporation (NYSE:AGCO) to report sales of $1.91 billion for the current quarter, Zacks reports. Six analysts have provided estimates for AGCO Corporation’s earnings. The lowest sales estimate is $1.86 billion and the highest is $1.94 billion. AGCO Corporation posted sales of $1.76 billion during the same quarter last year, which would indicate a positive year over year growth rate of 8.5%. The business is scheduled to issue its next earnings report on Wednesday, October 25th.
On average, analysts expect that AGCO Corporation will report full year sales of $1.91 billion for the current fiscal year, with estimates ranging from $7.93 billion to $8.13 billion. For the next financial year, analysts anticipate that the business will report sales of $8.40 billion per share, with estimates ranging from $8.20 billion to $8.57 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover AGCO Corporation.
AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period last year, the business earned $1.25 EPS. The business’s revenue was up 8.5% on a year-over-year basis.
A number of brokerages have recently issued reports on AGCO. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 price target on shares of AGCO Corporation in a report on Wednesday, May 31st. Piper Jaffray Companies set a $66.00 price target on AGCO Corporation and gave the company a “hold” rating in a report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $64.00 price target on shares of AGCO Corporation in a report on Tuesday, June 6th. UBS AG raised AGCO Corporation from a “sell” rating to a “neutral” rating and upped their price target for the company from $52.00 to $68.00 in a report on Wednesday, June 21st. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $90.00 price target (up from $88.00) on shares of AGCO Corporation in a report on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.14.
In other AGCO Corporation news, SVP Lucinda B. Smith sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was 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 in the company, valued at $2,838,021. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Andrew H. Beck sold 10,000 shares of the company’s 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 of the company’s stock, valued at approximately $10,255,262.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,750 shares of company stock valued at $1,921,390. Company insiders own 16.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AGCO. BlackRock Inc. grew its position in shares of AGCO Corporation by 2,706.4% during the first quarter. BlackRock Inc. now owns 6,529,374 shares of the industrial products company’s stock worth $392,938,000 after purchasing an additional 6,296,716 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of AGCO Corporation by 50.0% during the second quarter. Victory Capital Management Inc. now owns 2,600,116 shares of the industrial products company’s stock worth $175,222,000 after purchasing an additional 866,708 shares in the last quarter. FMR LLC grew its position in shares of AGCO Corporation by 23.6% during the second quarter. FMR LLC now owns 1,606,000 shares of the industrial products company’s stock worth $108,228,000 after purchasing an additional 306,505 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AGCO Corporation by 4.3% during the first quarter. Vanguard Group Inc. now owns 5,646,479 shares of the industrial products company’s stock worth $339,804,000 after purchasing an additional 232,091 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of AGCO Corporation by 48.1% during the second quarter. Canada Pension Plan Investment Board now owns 699,503 shares of the industrial products company’s stock worth $47,140,000 after purchasing an additional 227,300 shares in the last quarter. Hedge funds and other institutional investors own 80.67% of the company’s stock.
Shares of AGCO Corporation (AGCO) opened at 72.62 on Monday. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 31.75 and a beta of 0.88. AGCO Corporation has a 12 month low of $46.75 and a 12 month high of $74.40. The stock’s 50 day moving average price is $69.21 and its 200 day moving average price is $65.61.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Friday, August 11th. AGCO Corporation’s payout ratio is 24.56%.
AGCO Corporation Company Profile
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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