Desjardins Weighs in on Ag Growth International Inc.’s FY2024 Earnings (TSE:AFN)

Ag Growth International Inc. (TSE:AFN) – Equities research analysts at Desjardins decreased their FY2024 earnings per share estimates for Ag Growth International in a research report issued to clients and investors on Tuesday, April 30th. Desjardins analyst G. Ho now expects that the company will post earnings of $5.76 per share for the year, down from their prior estimate of $6.50. Desjardins currently has a “Buy” rating and a $78.00 price target on the stock. The consensus estimate for Ag Growth International’s current full-year earnings is $5.90 per share. Desjardins also issued estimates for Ag Growth International’s FY2025 earnings at $6.57 EPS.

A number of other research firms also recently issued reports on AFN. CIBC boosted their target price on shares of Ag Growth International from C$78.00 to C$82.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. National Bankshares cut their target price on shares of Ag Growth International from C$82.00 to C$77.00 and set an “outperform” rating for the company in a research note on Wednesday. TD Securities lifted their price target on Ag Growth International from C$75.00 to C$83.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Scotiabank lowered their target price on Ag Growth International from C$88.00 to C$75.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, ATB Capital reduced their price target on Ag Growth International from C$85.00 to C$81.00 and set an “outperform” rating on the stock in a report on Tuesday. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$78.22.

Ag Growth International Trading Up 0.4 %

Shares of TSE:AFN opened at C$50.07 on Friday. The company has a debt-to-equity ratio of 285.22, a current ratio of 1.21 and a quick ratio of 0.84. The firm has a market capitalization of C$951.83 million, a P/E ratio of 14.49, a P/E/G ratio of 1.30 and a beta of 2.32. The business’s 50-day moving average is C$60.49 and its 200 day moving average is C$55.28. Ag Growth International has a 1 year low of C$47.07 and a 1 year high of C$64.51.

Ag Growth International (TSE:AFN) last issued its quarterly earnings data on Tuesday, March 5th. The company reported C$1.70 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.08 by C$0.62. The company had revenue of C$379.32 million for the quarter, compared to the consensus estimate of C$414.68 million. Ag Growth International had a return on equity of 23.61% and a net margin of 4.51%.

Ag Growth International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Wednesday, March 27th. Ag Growth International’s dividend payout ratio (DPR) is 17.44%.

About Ag Growth International

Ag Growth International Inc, together with its subsidiaries, manufactures and sells equipment for the agriculture industry in Canada, the United States, and internationally. It operates through Farm and Commercial segments. The company offers grain, bolted, hopper, and smooth wall bins; temporary storage; unloads and sweeps systems; water tanks; secondary containment systems; fuel tanks; and storage accessories, as well as mixed flow dryers; fans and heaters; aeration products; vents and exhausters; and stirring systems.