AGCO (NYSE:AGCO) Releases FY 2019 Earnings Guidance

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.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. AGCO had a return on equity of 12.63% and a net margin of 4.07%. The business 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 business earned $1.32 EPS. The business’s quarterly revenue was down 4.5% on a year-over-year basis. On average, sell-side analysts expect that AGCO will post 5.09 earnings per share for the current year.

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.

About AGCO

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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