Cormark Equities Analysts Cut Earnings Estimates for Ag Growth International Inc. (TSE:AFN)

Ag Growth International Inc. (TSE:AFN - Free Report) - Equities researchers at Cormark dropped their FY2024 earnings estimates for shares of Ag Growth International in a note issued to investors on Wednesday, May 1st. Cormark analyst K. Mcphee now anticipates that the company will post earnings of $6.13 per share for the year, down from their prior estimate of $6.45. The consensus estimate for Ag Growth International's current full-year earnings is $5.90 per share. Cormark also issued estimates for Ag Growth International's FY2025 earnings at $7.23 EPS and FY2026 earnings at $8.05 EPS.

AFN has been the subject of a number of other research reports. Raymond James increased their target price on shares of Ag Growth International from C$64.00 to C$72.00 and gave the stock an "outperform" rating in a research report on Thursday, March 7th. Desjardins dropped their target price on Ag Growth International from C$86.00 to C$78.00 and set a "buy" rating on the stock in a research report on Wednesday. CIBC lifted their price target on 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 decreased their price objective on Ag Growth International from C$82.00 to C$77.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Scotiabank cut their target price on Ag Growth International from C$88.00 to C$75.00 and set an "outperform" rating for the company in a research note on Wednesday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ag Growth International presently has a consensus rating of "Buy" and a consensus price target of C$78.22.

Ag Growth International Stock Performance

Shares of TSE AFN traded up C$0.22 during trading on Friday, reaching C$50.07. 100,367 shares of the stock traded hands, compared to its average volume of 47,732. The company has a 50-day moving average of C$60.49 and a 200-day moving average of C$55.28. Ag Growth International has a 52-week low of C$47.07 and a 52-week high of C$64.51. The stock has a market capitalization of C$951.83 million, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.30 and a beta of 2.32. The company has a debt-to-equity ratio of 285.22, a current ratio of 1.21 and a quick ratio of 0.84.

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

Ag Growth International Announces Dividend

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