Q1 2018 EPS Estimates for AGCO Co. Decreased by Analyst (AGCO)
AGCO Co. (NYSE:AGCO) – Seaport Global Securities lowered their Q1 2018 earnings per share estimates for AGCO in a research report issued on Thursday. Seaport Global Securities analyst M. Shlisky now expects that the industrial products company will post earnings per share of $0.15 for the quarter, down from their prior estimate of $0.31. Seaport Global Securities has a “Hold” rating on the stock. Seaport Global Securities also issued estimates for AGCO’s Q4 2018 earnings at $1.31 EPS, FY2018 earnings at $3.76 EPS and FY2019 earnings at $4.42 EPS.
AGCO has been the subject of several other reports. BMO Capital Markets dropped their price target on AGCO from $85.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, February 8th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $66.00 price objective on shares of AGCO in a report on Thursday, October 19th. Credit Suisse Group dropped their price objective on AGCO from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Wednesday, February 7th. Barclays initiated coverage on AGCO in a report on Tuesday, December 12th. They issued an “equal weight” rating and a $75.00 price objective for the company. Finally, Goldman Sachs Group raised AGCO from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $73.07.
AGCO (NYSE:AGCO) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.01). The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.40 billion. AGCO had a return on equity of 8.04% and a net margin of 2.24%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of AGCO by 5.9% in the 4th quarter. BlackRock Inc. now owns 6,754,418 shares of the industrial products company’s stock valued at $482,468,000 after purchasing an additional 378,009 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of AGCO by 8.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,789,037 shares of the industrial products company’s stock valued at $199,221,000 after purchasing an additional 223,112 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of AGCO by 1,020.4% in the 4th quarter. UBS Asset Management Americas Inc. now owns 2,354,033 shares of the industrial products company’s stock valued at $168,149,000 after purchasing an additional 2,143,931 shares during the last quarter. AGF Investments Inc. increased its stake in shares of AGCO by 8.5% in the 3rd quarter. AGF Investments Inc. now owns 1,496,467 shares of the industrial products company’s stock valued at $110,394,000 after purchasing an additional 117,464 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of AGCO by 11.9% in the 4th quarter. Schroder Investment Management Group now owns 1,149,232 shares of the industrial products company’s stock valued at $82,090,000 after purchasing an additional 122,435 shares during the last quarter. Institutional investors own 82.29% of the company’s stock.
In other AGCO news, SVP Robert B. Crain sold 7,000 shares of AGCO stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $70.72, for a total value of $495,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 16.60% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, February 14th. This is a boost from AGCO’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.88%. AGCO’s payout ratio is currently 24.14%.
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AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.
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