AGCO (NYSE:AGCO) Releases FY24 Earnings Guidance

AGCO (NYSE:AGCO) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of ~$12.00 for the period, compared to the consensus EPS 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

AGCO stock opened at $111.81 on Friday. The stock has a fifty day moving average price of $116.61 and a 200 day moving average price of $116.88. AGCO has a 52 week low of $105.77 and a 52 week high of $140.46. The firm has a market capitalization of $8.34 billion, a P/E ratio of 7.56, a PEG ratio of 0.70 and a beta of 1.32. The company has a current ratio of 1.99, a quick ratio of 0.67 and a debt-to-equity ratio of 0.72.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.99 billion. During the same quarter in the prior year, the company posted $3.51 EPS. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. Equities research analysts anticipate that AGCO will post 12 earnings per share for the current year.

AGCO Dividend Announcement

The business 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 $0.29 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.04%. AGCO’s dividend payout ratio (DPR) is presently 7.85%.

Analyst Ratings Changes

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