AGCO (NYSE:AGCO) Posts Earnings Results, Beats Expectations By $1.04 EPS

AGCO (NYSE:AGCO) posted its earnings results on Thursday. The industrial products company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $1.04, MarketWatch Earnings reports. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.74 billion. AGCO had a return on equity of 9.99% and a net margin of 0.63%. AGCO updated its FY 2020
Pre-Market guidance to 3.50-3.75 EPS and its FY20 guidance to $3.50-3.75 EPS.

Shares of AGCO opened at $65.63 on Friday. The stock has a fifty day moving average of $57.41 and a two-hundred day moving average of $57.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.63 and a current ratio of 1.48. The company has a market capitalization of $5.09 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 5.08 and a beta of 1.14. AGCO has a fifty-two week low of $35.33 and a fifty-two week high of $81.39.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.64 annualized dividend and a yield of 0.98%. AGCO’s dividend payout ratio (DPR) is presently 14.41%.

In other news, CAO Lara Thrush Long sold 2,200 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $56.55, for a total transaction of $124,410.00. Following the completion of the sale, the chief accounting officer now directly owns 3,494 shares in the company, valued at approximately $197,585.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 17.80% of the company’s stock.

Several brokerages recently issued reports on AGCO. BofA Securities upgraded AGCO from an “underperform” rating to a “neutral” rating and set a $68.00 price target on the stock in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. dropped their price target on AGCO from $62.00 to $57.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Zacks Investment Research upgraded AGCO from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday, July 1st. Bank of America upgraded AGCO from an “underperform” rating to a “neutral” rating and set a $68.00 target price on the stock in a research report on Wednesday, July 22nd. Finally, Citigroup boosted their target price on AGCO from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $69.13.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

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Earnings History for AGCO (NYSE:AGCO)

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