AGCO (NYSE:AGCO) Issues FY24 Earnings Guidance

AGCO (NYSE:AGCO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ~$12.00 for the period, compared to the consensus estimate of $12.84. The company issued revenue guidance of ~$13.5 billion, compared to the consensus revenue estimate of $13.55 billion.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Oppenheimer lifted their price objective on AGCO from $153.00 to $154.00 and gave the stock an outperform rating in a research report on Tuesday, April 16th. Truist Financial initiated coverage on AGCO in a research note on Thursday, March 14th. They issued a buy rating and a $142.00 target price for the company. StockNews.com downgraded AGCO from a buy rating to a hold rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. raised their target price on AGCO from $145.00 to $150.00 and gave the company an overweight rating in a research note on Friday, April 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $150.50.

AGCO Price Performance

AGCO stock opened at $112.14 on Thursday. AGCO has a 52-week low of $105.77 and a 52-week high of $140.46. The business has a 50-day simple moving average of $116.47 and a two-hundred day simple moving average of $117.00. The company has a market capitalization of $8.37 billion, a P/E ratio of 7.17, a price-to-earnings-growth ratio of 0.65 and a beta of 1.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.67 and a current ratio of 1.46.

AGCO (NYSE:AGCO) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). AGCO had a return on equity of 26.96% and a net margin of 8.13%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the previous year, the firm earned $4.47 EPS. AGCO’s quarterly revenue was down 2.5% on a year-over-year basis. Research analysts expect that AGCO will post 13.06 EPS for the current fiscal year.

AGCO Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.03%. AGCO’s dividend payout ratio (DPR) is presently 7.42%.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.