AGCO (NYSE:AGCO) Issues Quarterly Earnings Results

AGCO (NYSE:AGCOGet Rating) posted its quarterly earnings data on Tuesday. The industrial products company reported $2.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.48, MarketWatch Earnings reports. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.65 billion. AGCO had a return on equity of 24.30% and a net margin of 8.05%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.00 earnings per share. AGCO updated its FY22 guidance to $11.70-11.90 EPS.

NYSE AGCO traded up $3.35 during mid-day trading on Tuesday, hitting $132.18. The stock had a trading volume of 20,674 shares, compared to its average volume of 724,263. The company has a 50 day simple moving average of $133.70 and a 200 day simple moving average of $125.61. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 1.11 and a beta of 1.32. AGCO has a 52-week low of $108.56 and a 52-week high of $156.62. The company has a quick ratio of 0.70, a current ratio of 1.45 and a debt-to-equity ratio of 0.41.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Monday, May 16th will be paid a dividend of $0.24 per share. This is a positive change from AGCO’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, May 13th. This represents a $0.96 annualized dividend and a dividend yield of 0.73%. AGCO’s payout ratio is 6.74%.

A number of equities research analysts have recently commented on AGCO shares. Barclays upped their target price on shares of AGCO from $123.00 to $128.00 and gave the company an “equal weight” rating in a report on Thursday, January 13th. Deutsche Bank Aktiengesellschaft upped their price objective on AGCO from $141.00 to $143.00 and gave the company a “hold” rating in a research note on Thursday, April 14th. William Blair reissued an “outperform” rating on shares of AGCO in a report on Tuesday, February 8th. JPMorgan Chase & Co. upped their price target on AGCO from $170.00 to $178.00 and gave the stock an “overweight” rating in a research note on Monday, March 28th. Finally, Morgan Stanley lowered their price objective on shares of AGCO from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, April 18th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, AGCO has a consensus rating of “Buy” and a consensus target price of $149.91.

In other AGCO news, CAO Lara Thrush Long sold 900 shares of AGCO stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $117.55, for a total transaction of $105,795.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew H. Beck sold 25,000 shares of the stock in a transaction that occurred on Friday, February 11th. The shares were sold at an average price of $131.83, for a total transaction of $3,295,750.00. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Comerica Bank boosted its stake in shares of AGCO by 0.7% during the 4th quarter. Comerica Bank now owns 35,830 shares of the industrial products company’s stock worth $4,178,000 after purchasing an additional 241 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in AGCO by 2.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 22,440 shares of the industrial products company’s stock worth $2,603,000 after acquiring an additional 622 shares during the last quarter. NewEdge Advisors LLC grew its stake in AGCO by 6.2% in the 4th quarter. NewEdge Advisors LLC now owns 12,485 shares of the industrial products company’s stock worth $1,449,000 after acquiring an additional 730 shares during the period. Metropolitan Life Insurance Co NY raised its holdings in AGCO by 7.8% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 11,284 shares of the industrial products company’s stock valued at $1,309,000 after acquiring an additional 818 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in AGCO by 24.2% in the 3rd quarter. LPL Financial LLC now owns 5,214 shares of the industrial products company’s stock valued at $639,000 after acquiring an additional 1,015 shares during the last quarter. Hedge funds and other institutional investors own 77.74% of the company’s stock.

About AGCO (Get Rating)

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; 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, equestrian, and residential uses.

Further Reading

Earnings History for AGCO (NYSE:AGCO)

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