Zacks: Analysts Anticipate AGCO Co. (NYSE:AGCO) Will Announce Earnings of $1.86 Per Share

Brokerages expect that AGCO Co. (NYSE:AGCO) will post $1.86 earnings per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for AGCO’s earnings, with the highest EPS estimate coming in at $2.19 and the lowest estimate coming in at $1.72. AGCO posted earnings of $2.09 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 11%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, October 28th.

According to Zacks, analysts expect that AGCO will report full year earnings of $9.62 per share for the current financial year, with EPS estimates ranging from $9.47 to $9.92. For the next fiscal year, analysts anticipate that the firm will report earnings of $10.59 per share, with EPS estimates ranging from $9.85 to $11.50. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover AGCO.

AGCO (NYSE:AGCO) last issued its earnings results on Thursday, July 29th. The industrial products company reported $2.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.71. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.74 billion. AGCO had a net margin of 6.94% and a return on equity of 21.26%.

A number of research firms have recently weighed in on AGCO. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AGCO from $151.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group raised shares of AGCO from a “neutral” rating to a “buy” rating and set a $161.00 price objective for the company in a research report on Tuesday, August 24th. JPMorgan Chase & Co. upgraded shares of AGCO from a “neutral” rating to an “overweight” rating and set a $164.00 target price for the company in a report on Tuesday, July 13th. Citigroup boosted their target price on shares of AGCO from $155.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Morgan Stanley lowered their target price on shares of AGCO from $170.00 to $156.00 and set an “overweight” rating for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $147.36.

Shares of NYSE:AGCO traded up $2.66 during trading on Friday, reaching $127.94. The stock had a trading volume of 8,288 shares, compared to its average volume of 627,057. The business has a fifty day moving average price of $131.57 and a 200-day moving average price of $135.33. The company has a quick ratio of 0.57, a current ratio of 1.31 and a debt-to-equity ratio of 0.38. The stock has a market cap of $9.64 billion, a P/E ratio of 13.06, a PEG ratio of 0.69 and a beta of 1.33. AGCO has a fifty-two week low of $74.76 and a fifty-two week high of $158.62.

In other news, SVP Kelvin Eugene Bennett sold 1,750 shares of the company’s stock in a transaction on Tuesday, August 10th. The shares were sold at an average price of $138.37, for a total value of $242,147.50. Following the completion of the transaction, the senior vice president now directly owns 7,746 shares in the company, valued at $1,071,814.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hans Bernd Veltmaat sold 5,050 shares of the company’s stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $138.28, for a total transaction of $698,314.00. Following the completion of the sale, the senior vice president now directly owns 125,590 shares in the company, valued at $17,366,585.20. The disclosure for this sale can be found here. 17.40% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its stake in AGCO by 1.9% during the second quarter. ProShare Advisors LLC now owns 5,111 shares of the industrial products company’s stock valued at $666,000 after buying an additional 95 shares in the last quarter. Globeflex Capital L P lifted its stake in AGCO by 3.1% during the first quarter. Globeflex Capital L P now owns 3,686 shares of the industrial products company’s stock valued at $529,000 after buying an additional 110 shares in the last quarter. Stifel Financial Corp lifted its stake in AGCO by 0.5% during the second quarter. Stifel Financial Corp now owns 23,729 shares of the industrial products company’s stock valued at $3,094,000 after buying an additional 124 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of AGCO by 3.3% in the second quarter. Oppenheimer & Co. Inc. now owns 4,009 shares of the industrial products company’s stock worth $523,000 after purchasing an additional 128 shares in the last quarter. Finally, Zacks Investment Management lifted its position in shares of AGCO by 0.4% in the second quarter. Zacks Investment Management now owns 37,117 shares of the industrial products company’s stock worth $4,839,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 76.16% of the company’s stock.

AGCO Company Profile

AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It operates through the following geographic segments: North America; South America; Europe and Middle East; and Asia, Pacific, and Africa. The Asia/Pacific/Africa segment includes the regions of Australia and New Zealand.

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Earnings History and Estimates for AGCO (NYSE:AGCO)

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