AGCO Co. (NYSE:AGCO) Expected to Post Quarterly Sales of $2.27 Billion
Brokerages forecast that AGCO Co. (NYSE:AGCO) will report $2.27 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for AGCO’s earnings, with the highest sales estimate coming in at $2.29 billion and the lowest estimate coming in at $2.26 billion. AGCO posted sales of $2.21 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.7%. The business is expected to issue its next earnings results on Tuesday, October 29th.
On average, analysts expect that AGCO will report full year sales of $9.42 billion for the current fiscal year, with estimates ranging from $9.36 billion to $9.58 billion. For the next year, analysts forecast that the business will report sales of $9.79 billion, with estimates ranging from $9.58 billion to $10.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover AGCO.
AGCO (NYSE:AGCO) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.23. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.55 billion. AGCO had a return on equity of 12.64% and a net margin of 4.07%. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.32 EPS.
Shares of AGCO traded up $1.51 during trading hours on Friday, hitting $65.65. 848,100 shares of the company were exchanged, compared to its average volume of 624,466. The company has a market capitalization of $5.17 billion, a P/E ratio of 16.88, a PEG ratio of 0.99 and a beta of 0.94. The company has a quick ratio of 0.54, a current ratio of 1.29 and a debt-to-equity ratio of 0.47. The business’s fifty day moving average is $75.35. AGCO has a one year low of $49.50 and a one year high of $80.64.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Wednesday, August 14th. AGCO’s dividend payout ratio is 16.45%.
In other news, CAO Lara Thrush Long sold 2,326 shares of AGCO stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $73.05, for a total value of $169,914.30. Following the completion of the transaction, the chief accounting officer now owns 3,991 shares in the company, valued at $291,542.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Martin Richenhagen sold 51,000 shares of AGCO stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $71.60, for a total transaction of $3,651,600.00. Following the completion of the transaction, the chairman now owns 473,733 shares of the company’s stock, valued at approximately $33,919,282.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,977 shares of company stock valued at $8,707,768. Corporate insiders own 17.60% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new position in AGCO in the 2nd quarter worth approximately $50,000. First Interstate Bank acquired a new position in shares of AGCO in the 2nd quarter valued at $61,000. Doyle Wealth Management acquired a new position in shares of AGCO in the 2nd quarter valued at $78,000. SRS Capital Advisors Inc. bought a new stake in AGCO in the 2nd quarter valued at $87,000. Finally, Point72 Asset Management L.P. bought a new stake in AGCO in the 2nd quarter valued at $93,000. Institutional investors own 79.27% of the company’s stock.
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.
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