AGCO Co. Declares Dividend of $0.29 (NYSE:AGCO)

AGCO Co. (NYSE:AGCO) declared a dividend on Saturday, May 11th, investing.com reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.29 per share by the industrial products company on Friday, June 14th. This represents a yield of 1%. The ex-dividend date of this dividend is Tuesday, May 14th.

AGCO has raised its dividend by an average of 20.2% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. AGCO has a payout ratio of 9.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AGCO to earn $11.91 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 9.7%.

AGCO Price Performance

Shares of NYSE AGCO traded down $0.24 during mid-day trading on Friday, reaching $116.05. 532,413 shares of the company were exchanged, compared to its average volume of 807,871. The stock has a market capitalization of $8.66 billion, a PE ratio of 7.85, a PEG ratio of 0.72 and a beta of 1.32. The company has a quick ratio of 1.09, a current ratio of 1.99 and a debt-to-equity ratio of 0.72. AGCO has a 52 week low of $105.77 and a 52 week high of $140.46. The company’s 50 day moving average price is $117.30 and its 200 day moving average price is $116.95.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Monday, May 6th. The industrial products company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.03. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.99 billion. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company’s revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.51 earnings per share. Sell-side analysts forecast that AGCO will post 12.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of AGCO from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. StockNews.com lowered shares of AGCO from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Oppenheimer decreased their target price on shares of AGCO from $154.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Truist Financial cut their price target on shares of AGCO from $142.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.83.

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.