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.

AGCO Stock Performance

NYSE AGCO opened at $111.81 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.99 and a quick ratio of 0.67. The company has a market cap of $8.34 billion, a P/E ratio of 7.56, a P/E/G ratio of 0.70 and a beta of 1.32. The stock has a 50-day moving average of $116.61 and a two-hundred day moving average of $116.88. AGCO has a 1-year low of $105.77 and a 1-year high of $140.46.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.29 by $0.03. AGCO had a net margin of 7.90% and a return on equity of 24.02%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the company posted $3.51 EPS. The firm’s revenue was down 12.1% compared to the same quarter last year. As a group, analysts anticipate that AGCO will post 12 EPS for the current year.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, May 14th. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Oppenheimer cut their target price on AGCO from $154.00 to $145.00 and set an outperform rating on the stock in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of AGCO from $150.00 to $135.00 and set an overweight rating on the stock in a research note on Friday. StockNews.com downgraded shares of AGCO from a buy rating to a hold rating in a research report on Friday, February 9th. Finally, Truist Financial lowered their target price on shares of AGCO from $142.00 to $137.00 and set a buy rating on the stock in a report on Friday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target 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.