Equities Analysts Offer Predictions for AGCO Co.’s Q3 2024 Earnings (NYSE:AGCO)

AGCO Co. (NYSE:AGCO) – Equities research analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for shares of AGCO in a research note issued to investors on Tuesday, September 12th. Zacks Research analyst S. Deb now anticipates that the industrial products company will post earnings of $3.18 per share for the quarter, down from their prior estimate of $3.20. The consensus estimate for AGCO’s current full-year earnings is $15.19 per share. Zacks Research also issued estimates for AGCO’s FY2024 earnings at $13.93 EPS.

AGCO (NYSE:AGCO) last released its quarterly earnings results on Thursday, July 27th. The industrial products company reported $4.29 earnings per share for the quarter, beating analysts’ consensus estimates of $3.72 by $0.57. AGCO had a net margin of 7.84% and a return on equity of 29.56%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the firm earned $2.38 earnings per share. The firm’s revenue was up 29.0% on a year-over-year basis.

Other analysts have also issued reports about the company. StockNews.com assumed coverage on AGCO in a report on Thursday, August 17th. They set a “buy” rating on the stock. Citigroup raised their target price on AGCO from $150.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, Oppenheimer lowered their target price on AGCO from $158.00 to $153.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, AGCO has an average rating of “Moderate Buy” and a consensus target price of $154.64.

AGCO Price Performance

Shares of NYSE AGCO opened at $122.80 on Thursday. The company has a market capitalization of $9.20 billion, a PE ratio of 8.28, a PEG ratio of 0.89 and a beta of 1.38. The company has a quick ratio of 0.68, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average price is $128.73 and its 200-day moving average price is $127.21. AGCO has a twelve month low of $93.53 and a twelve month high of $145.53.

Institutional Trading of AGCO

Institutional investors have recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of AGCO by 99,144.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 315,085,282 shares of the industrial products company’s stock valued at $41,408,508,000 after purchasing an additional 314,767,798 shares during the period. Vanguard Group Inc. raised its stake in shares of AGCO by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 6,453,637 shares of the industrial products company’s stock valued at $942,424,000 after purchasing an additional 106,593 shares during the period. Mizuho Markets Americas LLC raised its stake in shares of AGCO by 7,866.4% during the 1st quarter. Mizuho Markets Americas LLC now owns 3,589,105 shares of the industrial products company’s stock valued at $300,695,000 after purchasing an additional 3,544,052 shares during the period. LSV Asset Management grew its stake in AGCO by 4.4% during the second quarter. LSV Asset Management now owns 3,318,770 shares of the industrial products company’s stock valued at $436,153,000 after acquiring an additional 140,652 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in AGCO by 0.6% during the fourth quarter. Victory Capital Management Inc. now owns 3,260,006 shares of the industrial products company’s stock valued at $452,130,000 after acquiring an additional 18,305 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

AGCO Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Monday, August 14th. This represents a $1.16 annualized dividend and a dividend yield of 0.94%. AGCO’s payout ratio is 7.82%.

AGCO Company Profile

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.