FY2023 EPS Estimates for Ag Growth International Inc. Cut by Analyst (TSE:AFN)

Ag Growth International Inc. (TSE:AFN – Get Rating) – Investment analysts at Desjardins reduced their FY2023 EPS estimates for Ag Growth International in a research report issued to clients and investors on Tuesday, May 9th. Desjardins analyst G. Ho now forecasts that the company will earn $4.31 per share for the year, down from their previous forecast of $4.91. The consensus estimate for Ag Growth International’s current full-year earnings is $4.76 per share. Desjardins also issued estimates for Ag Growth International’s FY2024 earnings at $5.47 EPS.

Ag Growth International (TSE:AFN – Get Rating) last released its quarterly earnings results on Tuesday, March 7th. The company reported C$0.92 earnings per share for the quarter, topping the consensus estimate of C($0.27) by C$1.19. The company had revenue of C$374.03 million during the quarter, compared to the consensus estimate of C$341.23 million. Ag Growth International had a negative return on equity of 18.93% and a negative net margin of 3.47%.

A number of other analysts have also issued reports on the stock. Scotiabank raised their target price on shares of Ag Growth International from C$75.00 to C$76.00 in a research report on Friday, April 21st. Royal Bank of Canada upped their target price on Ag Growth International from C$55.00 to C$70.00 and gave the company an “outperform” rating in a research note on Thursday, March 9th. Raymond James raised their price target on Ag Growth International from C$64.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Friday, March 10th. CIBC increased their price objective on shares of Ag Growth International from C$62.00 to C$72.00 and gave the stock an “outperform” rating in a report on Thursday, March 9th. Finally, TD Securities boosted their target price on shares of Ag Growth International from C$66.00 to C$77.00 and gave the company a “buy” rating in a report on Thursday, March 9th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$70.88.

Ag Growth International Price Performance

TSE:AFN opened at C$51.20 on Friday. Ag Growth International has a 12-month low of C$28.80 and a 12-month high of C$63.40. The firm has a market cap of C$969.73 million, a price-to-earnings ratio of -18.42, a price-to-earnings-growth ratio of 1.30 and a beta of 2.30. The company’s 50-day moving average is C$59.14 and its two-hundred day moving average is C$50.03. The company has a current ratio of 1.59, a quick ratio of 0.84 and a debt-to-equity ratio of 345.04.

Ag Growth International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, March 30th. Ag Growth International’s dividend payout ratio is presently -21.58%.

About Ag Growth International

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Ag Growth International Inc, together with its subsidiaries, manufactures and distributes grain and rice handling, storage, and conditioning equipment in Canada, the United States, and internationally. The company offers storage equipment comprising grain and bolted bins, hopper bins, smooth wall bins, temporary storage equipment, unloads and sweeps, water tanks, fuel tanks; and conditioning equipment, such as mixed flow dryers, fans and heaters, aerations, airaugers, aeration floors, vents and exhausters, stirrings, and accessories.