AGCO (NYSE:AGCO) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.10-5.10 for the period, compared to the Thomson Reuters consensus estimate of $4.92. The company issued revenue guidance of $9.4-9.4 billion, compared to the consensus revenue estimate of $9.49 billion.AGCO also updated its FY19 guidance to ~$5.10 EPS.
AGCO has been the topic of several analyst reports. Morgan Stanley lifted their price objective on AGCO from $60.00 to $65.00 and gave the stock an underweight rating in a report on Wednesday, July 10th. OTR Global upgraded AGCO to a positive rating in a report on Friday, July 12th. Jefferies Financial Group upgraded AGCO from a hold rating to a buy rating and lifted their price objective for the stock from $70.00 to $90.00 in a report on Monday, June 24th. Zacks Investment Research upgraded AGCO from a hold rating to a buy rating and set a $80.00 price objective on the stock in a report on Tuesday, April 16th. Finally, Credit Suisse Group restated a neutral rating and set a $83.00 price objective (up from $70.00) on shares of AGCO in a report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. AGCO has a consensus rating of Hold and a consensus target price of $76.86.
Shares of NYSE AGCO traded down $0.99 during trading on Friday, reaching $73.18. The stock had a trading volume of 24,534 shares, compared to its average volume of 569,698. AGCO has a one year low of $49.50 and a one year high of $80.64. The company has a current ratio of 1.29, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $5.70 billion, a PE ratio of 18.78, a PEG ratio of 1.17 and a beta of 0.98. The stock has a 50 day simple moving average of $76.11.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.16 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.87%. AGCO’s dividend payout ratio (DPR) is 16.45%.
In related news, Chairman Martin Richenhagen sold 51,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.43, for a total transaction of $3,591,930.00. Following the completion of the transaction, the chairman now directly owns 503,733 shares in the company, valued at approximately $35,477,915.19. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Robert B. Crain sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.86, for a total value of $1,821,500.00. Following the transaction, the senior vice president now owns 81,914 shares of the company’s stock, valued at $5,968,254.04. The disclosure for this sale can be found here. Insiders sold a total of 172,000 shares of company stock valued at $12,536,330 over the last quarter. Company insiders own 17.60% of the company’s stock.
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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