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

AGCO Co. (NYSE:AGCO) declared a quarterly dividend on Thursday, October 24th,NASDAQ Dividends reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.29 per share by the industrial products company on Monday, December 16th. This represents a $1.16 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, November 15th.

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 11 consecutive years. AGCO has a dividend payout ratio of 16.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect AGCO to earn $6.59 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 17.6%.

AGCO Trading Down 0.9 %

Shares of AGCO stock opened at $89.48 on Thursday. The firm has a 50-day simple moving average of $95.75 and a two-hundred day simple moving average of $98.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. AGCO has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The company has a market cap of $6.68 billion, a P/E ratio of 39.59, a price-to-earnings-growth ratio of 0.51 and a beta of 1.25.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40). AGCO had a net margin of 1.35% and a return on equity of 15.79%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the business posted $3.97 EPS. AGCO’s revenue was down 24.8% compared to the same quarter last year. As a group, equities analysts predict that AGCO will post 7.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AGCO. UBS Group dropped their price target on AGCO from $107.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Robert W. Baird cut their target price on AGCO from $139.00 to $129.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group lowered their price target on shares of AGCO from $112.00 to $99.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Truist Financial raised their price objective on shares of AGCO from $118.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets started coverage on shares of AGCO in a research note on Friday, August 9th. They set a “market perform” rating and a $96.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $114.40.

About AGCO

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.