AGCO (NYSE:AGCO) Announces Quarterly Earnings Results, Beats Estimates By $0.23 EPS

AGCO (NYSE:AGCO) released its quarterly earnings data on Tuesday. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.23, Briefing.com reports. AGCO had a net margin of 4.07% and a return on equity of 12.63%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm earned $1.32 earnings per share. AGCO’s revenue for the quarter was down 4.5% on a year-over-year basis. AGCO updated its FY 2019 guidance to $5.10-5.10 EPS and its FY19 guidance to ~$5.10 EPS.

Shares of AGCO stock traded down $1.27 on Friday, hitting $72.90. The stock had a trading volume of 7,700 shares, compared to its average volume of 569,698. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 1.17 and a beta of 0.98. The business has a 50 day simple moving average of $76.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.29 and a quick ratio of 0.54. AGCO has a 52-week low of $49.50 and a 52-week high of $80.64.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.64 annualized dividend and a dividend yield of 0.88%. AGCO’s dividend payout ratio (DPR) is presently 16.45%.

Several equities research analysts have issued reports on the stock. Credit Suisse Group reiterated a “neutral” rating and set a $83.00 price objective (up from $70.00) on shares of AGCO in a research note on Wednesday. Stifel Nicolaus set a $79.00 price objective on shares of AGCO and gave the stock a “hold” rating in a research note on Wednesday. Wells Fargo & Co downgraded shares of AGCO from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $90.00 to $80.00 in a research note on Wednesday, July 17th. Citigroup boosted their price objective on shares of AGCO from $65.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Finally, Deutsche Bank set a $88.00 price objective on shares of AGCO and gave the stock a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $76.86.

In other AGCO news, SVP Robert B. Crain sold 25,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.86, for a total transaction of $1,821,500.00. Following the transaction, the senior vice president now directly owns 81,914 shares in the company, valued at approximately $5,968,254.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Martin Richenhagen sold 51,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $70.43, for a total transaction of $3,591,930.00. Following the transaction, the chairman now owns 503,733 shares in the company, valued at $35,477,915.19. The disclosure for this sale can be found here. Insiders sold 172,000 shares of company stock valued at $12,536,330 over the last 90 days. Insiders own 17.60% 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 for AGCO (NYSE:AGCO)

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