AGCO Corporation (AGCO) Issues FY17 Earnings Guidance

AGCO Corporation (NYSE:AGCO) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of approx $3.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.06. The company issued revenue guidance of approx $8.2 billion, compared to the consensus revenue estimate of $7.99 billion.

Several equities research analysts recently issued reports on AGCO shares. Deutsche Bank AG reiterated a buy rating and issued a $86.00 price target (down from $90.00) on shares of AGCO Corporation in a research note on Monday, October 9th. J P Morgan Chase & Co cut AGCO Corporation from a neutral rating to an underweight rating and set a $65.00 price target for the company. in a research note on Tuesday, October 10th. Bank of America Corporation cut AGCO Corporation from a neutral rating to an underperform rating and cut their price target for the company from $74.65 to $70.00 in a research note on Friday, October 13th. Zacks Investment Research cut AGCO Corporation from a strong-buy rating to a hold rating in a research note on Wednesday, October 11th. Finally, BidaskClub cut AGCO Corporation from a buy rating to a hold rating in a research note on Wednesday, August 9th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. AGCO Corporation currently has an average rating of Hold and a consensus target price of $69.07.

Shares of AGCO Corporation (NYSE:AGCO) traded up 1.23% on Wednesday, hitting $69.41. 129,838 shares of the stock traded hands. AGCO Corporation has a 52 week low of $48.93 and a 52 week high of $75.58. The firm has a market cap of $5.52 billion, a P/E ratio of 30.35 and a beta of 0.86. The stock has a 50-day moving average price of $72.50 and a 200 day moving average price of $68.34.

AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.07. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.92 billion. AGCO Corporation had a net margin of 2.40% and a return on equity of 6.84%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. Equities research analysts predict that AGCO Corporation will post $3.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, November 14th. AGCO Corporation’s dividend payout ratio (DPR) is currently 24.56%.

In other news, SVP Hans Bernd Veltmaat sold 750 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $66.52, for a total transaction of $49,890.00. Following the sale, the senior vice president now owns 68,552 shares in the company, valued at approximately $4,560,079.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andrew H. Beck sold 10,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $72.18, for a total transaction of $721,800.00. Following the sale, the chief financial officer now owns 142,079 shares in the company, valued at approximately $10,255,262.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,750 shares of company stock worth $844,690. Corporate insiders own 16.60% of the company’s stock.

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AGCO Corporation Company Profile

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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