Agco Corp. (NYSE:AGCO) Given Consensus Recommendation of “Hold” by Brokerages
Agco Corp. (NYSE:AGCO) has been given a consensus rating of “Hold” by the fourteen research firms that are covering the company. Three analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $47.82.
A number of research analysts recently issued reports on the company. Morgan Stanley set a $54.00 price target on Agco Corp. and gave the stock a “hold” rating in a research note on Saturday, September 17th. Barclays PLC restated an “equal weight” rating and set a $43.00 price target on shares of Agco Corp. in a research note on Tuesday, July 12th. Piper Jaffray Cos. downgraded Agco Corp. from a “neutral” rating to an “underweight” rating and set a $37.00 price target on the stock. in a research note on Monday, July 25th. Citigroup Inc. dropped their price target on Agco Corp. from $55.00 to $53.00 and set a “neutral” rating on the stock in a research note on Friday, July 15th. Finally, Zacks Investment Research downgraded Agco Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th.
Shares of Agco Corp. (NYSE:AGCO) opened at 49.29 on Thursday. The stock has a 50 day moving average price of $47.90 and a 200-day moving average price of $49.78. Agco Corp. has a 52-week low of $42.40 and a 52-week high of $56.00. The stock has a market capitalization of $4.00 billion, a PE ratio of 22.15 and a beta of 1.32.
Agco Corp. (NYSE:AGCO) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.88 billion. Agco Corp. had a return on equity of 7.72% and a net margin of 2.58%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. On average, equities research analysts anticipate that Agco Corp. will post $2.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.52 annualized dividend and a yield of 1.05%. Agco Corp.’s dividend payout ratio is presently 23.64%.
Institutional investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. boosted its position in shares of Agco Corp. by 67.6% in the first quarter. Landscape Capital Management L.L.C. now owns 18,100 shares of the company’s stock valued at $900,000 after buying an additional 7,300 shares in the last quarter. Contrarius Investment Management Ltd boosted its position in shares of Agco Corp. by 3.8% in the first quarter. Contrarius Investment Management Ltd now owns 37,598 shares of the company’s stock valued at $1,869,000 after buying an additional 1,366 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Agco Corp. by 19.1% in the first quarter. JPMorgan Chase & Co. now owns 587,574 shares of the company’s stock valued at $29,203,000 after buying an additional 94,266 shares in the last quarter. Tobam purchased a new position in shares of Agco Corp. during the first quarter valued at about $3,085,000. Finally, BlackRock Group LTD boosted its position in shares of Agco Corp. by 0.4% in the first quarter. BlackRock Group LTD now owns 317,087 shares of the company’s stock valued at $15,759,000 after buying an additional 1,227 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.
Agco Corp. Company Profile
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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