AGCO (NYSE:AGCO) Updates FY24 Earnings Guidance

AGCO (NYSE:AGCO - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of ~$12.00 for the period, compared to the consensus EPS estimate of $12.84. The company issued revenue guidance of ~$13.5 billion, compared to the consensus revenue estimate of $13.55 billion.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AGCO shares. StockNews.com lowered AGCO from a buy rating to a hold rating in a research report on Friday, February 9th. Truist Financial initiated 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. JPMorgan Chase & Co. boosted their target price on shares of AGCO from $145.00 to $150.00 and gave the company an overweight rating in a research note on Friday, April 12th. Finally, Oppenheimer upped their target price on AGCO from $153.00 to $154.00 and gave the company an outperform rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, AGCO presently has a consensus rating of Moderate Buy and a consensus price target of $150.50.

AGCO Price Performance

Shares of NYSE AGCO traded down $1.51 during trading on Thursday, reaching $110.63. The company had a trading volume of 1,544,952 shares, compared to its average volume of 708,063. AGCO has a 52 week low of $105.77 and a 52 week high of $140.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.67 and a current ratio of 1.46. The business's 50 day moving average price is $116.47 and its 200-day moving average price is $117.00. The stock has a market cap of $8.26 billion, a PE ratio of 7.17, a PEG ratio of 0.65 and a beta of 1.32.

AGCO (NYSE:AGCO - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $4.03 billion. AGCO had a return on equity of 26.96% and a net margin of 8.13%. The business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.47 EPS. Analysts expect that AGCO will post 13.06 earnings per share for the current year.

AGCO Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be given a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.05%. AGCO's payout ratio is 7.42%.

About AGCO

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.