AGCO (NYSE:AGCO) Updates FY 2019 Earnings Guidance

AGCO (NYSE:AGCO) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.10-5.10 for the period, compared to the Thomson Reuters consensus earnings per share 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.

NYSE:AGCO traded down $1.12 during mid-day trading on Friday, reaching $73.05. 253,640 shares of the stock were exchanged, compared to its average volume of 569,698. The company has a 50 day moving average of $76.11. The firm has a market capitalization of $5.70 billion, a PE ratio of 18.78, a P/E/G ratio of 1.17 and a beta of 0.98. 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 1 year low of $49.50 and a 1 year high of $80.64.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.23. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.55 billion. AGCO had a return on equity of 12.63% and a net margin of 4.07%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 EPS. Sell-side analysts expect that AGCO will post 5.09 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a $0.16 dividend. The ex-dividend date 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 currently 16.45%.

AGCO has been the topic of several analyst reports. Zacks Investment Research upgraded AGCO from a hold rating to a buy rating and set a $80.00 target price on the stock in a research note on Tuesday, April 16th. Jefferies Financial Group raised AGCO from a hold rating to a buy rating and raised their price target for the company from $70.00 to $90.00 in a report on Monday, June 24th. OTR Global raised AGCO to a positive rating in a report on Friday, July 12th. ValuEngine cut AGCO from a buy rating to a hold rating in a report on Tuesday, July 2nd. Finally, Credit Suisse Group reissued a neutral rating and issued a $83.00 price target (up from $70.00) on shares of AGCO in a report on Wednesday. Two 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. The company has an average rating of Hold and a consensus price target of $76.86.

In other news, Chairman Martin Richenhagen sold 45,000 shares of AGCO stock in a transaction on Monday, July 15th. The stock was sold at an average price of $77.14, for a total value of $3,471,300.00. Following the completion of the sale, the chairman now owns 447,317 shares of the company’s stock, valued at $34,506,033.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Robert B. Crain sold 25,000 shares of AGCO stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.86, for a total value of $1,821,500.00. Following the completion of the sale, the senior vice president now directly owns 81,914 shares of the company’s stock, valued at approximately $5,968,254.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,000 shares of company stock valued at $12,536,330. 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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