AGCO (NYSE:AGCO) Updates FY19 Earnings Guidance

AGCO (NYSE:AGCO) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share guidance of ~$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 billion, compared to the consensus revenue estimate of $9.49 billion.AGCO also updated its FY 2019 guidance to $5.10-5.10 EPS.

A number of brokerages have recently issued reports on AGCO. ValuEngine cut AGCO from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Jefferies Financial Group upgraded AGCO from a hold rating to a buy rating and upped their price objective for the stock from $70.00 to $90.00 in a research note on Monday, June 24th. Citigroup boosted their target price on AGCO from $65.00 to $80.00 and gave the stock a neutral rating in a report on Monday, May 6th. UBS Group boosted their target price on AGCO from $65.00 to $75.00 and gave the stock a neutral rating in a report on Tuesday, May 7th. Finally, Credit Suisse Group reissued a neutral rating and set a $83.00 target price (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 issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $76.86.

NYSE AGCO traded down $0.99 on Friday, reaching $73.18. The stock had a trading volume of 614,890 shares, compared to its average volume of 614,832. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 1.29. The stock’s fifty day moving average is $76.11. AGCO has a 1-year low of $49.50 and a 1-year high of $80.64. The stock has a market capitalization of $5.70 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.17 and a beta of 0.98.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.23. AGCO had a return on equity of 12.63% and a net margin of 4.07%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the firm posted $1.32 EPS. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. Analysts forecast that AGCO will post 5.09 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, August 14th. AGCO’s dividend payout ratio is 16.45%.

In other news, SVP Robert B. Crain sold 25,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.86, for a total transaction of $1,821,500.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Martin Richenhagen sold 51,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.43, for a total value of $3,591,930.00. Following the sale, the chairman now directly owns 503,733 shares in the company, valued at $35,477,915.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,000 shares of company stock worth $12,536,330. 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 and Estimates for AGCO (NYSE:AGCO)

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