AGCO Co. to Issue Quarterly Dividend of $0.29 (NYSE:AGCO)

AGCO Co. (NYSE:AGCO - Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.29 per share by the industrial products company on Friday, June 14th. This represents a $1.16 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Tuesday, May 14th.

AGCO has raised its dividend by an average of 20.2% annually over the last three years and has raised its dividend every year for the last 3 years. AGCO has a payout ratio of 9.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect AGCO to earn $12.61 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 9.2%.

AGCO Trading Down 0.9 %

AGCO traded down $1.06 during trading hours on Friday, reaching $116.61. 664,104 shares of the company's stock traded hands, compared to its average volume of 583,150. AGCO has a 52-week low of $105.77 and a 52-week high of $140.46. The firm has a market capitalization of $8.70 billion, a PE ratio of 7.46, a PEG ratio of 0.67 and a beta of 1.31. The firm has a 50-day moving average price of $116.03 and a 200 day moving average price of $117.16. The company has a quick ratio of 0.67, a current ratio of 1.46 and a debt-to-equity ratio of 0.30.

AGCO (NYSE:AGCO - Get Free Report) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $3.78 earnings per share for the quarter, missing the consensus estimate of $4.03 by ($0.25). AGCO had a return on equity of 26.96% and a net margin of 8.13%. The firm had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $4.03 billion. During the same quarter in the prior year, the company posted $4.47 earnings per share. AGCO's quarterly revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts predict that AGCO will post 13.06 EPS for the current fiscal year.

Analysts Set New Price Targets

AGCO has been the subject of several research reports. StockNews.com cut AGCO from a "buy" rating to a "hold" rating in a report on Friday, February 9th. Oppenheimer boosted their price target on AGCO from $153.00 to $154.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 16th. Truist Financial started coverage on AGCO in a research report on Thursday, March 14th. They issued a "buy" rating and a $142.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on AGCO from $145.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $150.50.

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.