AGCO (NYSE:AGCO) Releases FY 2020 Pre-Market Earnings Guidance

AGCO (NYSE:AGCO) issued an update on its FY 2020
Pre-Market earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.50-3.75 for the period, compared to the Thomson Reuters consensus estimate of $2.44. The company issued revenue guidance of $8.3-8.4 billion, compared to the consensus revenue estimate of $8.04 billion.AGCO also updated its FY20 guidance to $3.50-3.75 EPS.

NYSE AGCO opened at $65.63 on Friday. The company’s 50-day moving average price is $57.41 and its 200-day moving average price is $57.41. The company has a current ratio of 1.48, a quick ratio of 0.63 and a debt-to-equity ratio of 0.66. The stock has a market cap of $4.91 billion, a PE ratio of 92.44, a PEG ratio of 4.91 and a beta of 1.14. AGCO has a 12 month low of $35.33 and a 12 month high of $81.39.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $1.04. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.74 billion. AGCO had a net margin of 0.63% and a return on equity of 9.99%. As a group, sell-side analysts forecast that AGCO will post 2.15 earnings per share for the current year.

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

Several research analysts have issued reports on the stock. Bank of America upgraded shares of AGCO from an underperform rating to a neutral rating and set a $68.00 target price on the stock in a report on Wednesday, July 22nd. Zacks Investment Research upgraded shares of AGCO from a hold rating to a buy rating and set a $58.00 target price on the stock in a report on Wednesday, July 1st. Jefferies Financial Group reiterated a buy rating on shares of AGCO in a report on Monday, July 6th. Citigroup increased their target price on shares of AGCO from $55.00 to $60.00 and gave the stock a neutral rating in a report on Thursday, June 18th. Finally, Deutsche Bank cut shares of AGCO from a buy rating to a hold rating and set a $60.00 target price on the stock. in a report on Tuesday, June 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. AGCO currently has a consensus rating of Hold and an average price target of $69.13.

In related news, CAO Lara Thrush Long sold 2,200 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $56.55, for a total value of $124,410.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,494 shares of the company’s stock, valued at approximately $197,585.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.80% of the company’s stock.

AGCO Company Profile

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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