Zacks: Brokerages Expect AGCO (AGCO) Will Post Quarterly Sales of $2.43 Billion

Equities research analysts expect AGCO (NYSE:AGCO) to report sales of $2.43 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for AGCO’s earnings, with the highest sales estimate coming in at $2.49 billion and the lowest estimate coming in at $2.36 billion. AGCO reported sales of $2.17 billion during the same quarter last year, which would suggest a positive year over year growth rate of 12%. The business is expected to issue its next quarterly earnings results on Thursday, July 26th.

On average, analysts expect that AGCO will report full-year sales of $9.28 billion for the current fiscal year, with estimates ranging from $9.12 billion to $9.35 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $9.72 billion per share, with estimates ranging from $9.54 billion to $9.90 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow AGCO.

AGCO (NYSE:AGCO) last announced its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.23. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.85 billion. AGCO had a net margin of 2.54% and a return on equity of 8.86%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.02) earnings per share.

A number of equities research analysts have weighed in on AGCO shares. JPMorgan Chase upgraded shares of AGCO from an “underweight” rating to a “neutral” rating in a report on Wednesday, February 7th. Bank of America cut their price objective on shares of AGCO from $70.00 to $64.00 and set an “underperform” rating on the stock in a report on Wednesday, February 7th. Credit Suisse Group cut their price objective on shares of AGCO from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, May 2nd. ValuEngine cut shares of AGCO from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Seaport Global Securities restated a “hold” rating on shares of AGCO in a report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. AGCO presently has an average rating of “Hold” and an average target price of $72.79.

AGCO traded up $1.35 during midday trading on Friday, reaching $66.43. The company’s stock had a trading volume of 874,826 shares, compared to its average volume of 745,860. The stock has a market cap of $5.10 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.65 and a current ratio of 1.50. AGCO has a 1 year low of $64.38 and a 1 year high of $64.90.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Tuesday, May 15th will be paid a $0.15 dividend. The ex-dividend date is Monday, May 14th. This represents a $0.60 annualized dividend and a dividend yield of 0.90%. AGCO’s dividend payout ratio is presently 19.87%.

Several hedge funds and other institutional investors have recently modified their holdings of AGCO. Nisa Investment Advisors LLC lifted its position in AGCO by 2.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 36,076 shares of the industrial products company’s stock valued at $2,577,000 after purchasing an additional 861 shares during the period. Hirtle Callaghan & Co LLC bought a new position in AGCO during the fourth quarter valued at approximately $163,000. Schwab Charles Investment Management Inc. lifted its position in AGCO by 5.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 271,202 shares of the industrial products company’s stock valued at $19,372,000 after purchasing an additional 13,705 shares during the period. State of Alaska Department of Revenue bought a new position in AGCO during the fourth quarter valued at approximately $285,000. Finally, SG Americas Securities LLC lifted its position in AGCO by 134.7% during the fourth quarter. SG Americas Securities LLC now owns 39,169 shares of the industrial products company’s stock valued at $2,798,000 after purchasing an additional 22,477 shares during the period. Hedge funds and other institutional investors own 82.58% of the company’s stock.

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 and Estimates for AGCO (NYSE:AGCO)

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