AGCO Corporation (NYSE:AGCO) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.07, Bloomberg Earnings reports. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.92 billion. AGCO Corporation had a net margin of 2.59% and a return on equity of 7.50%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. AGCO Corporation updated its FY17 guidance to approx $3.00 EPS.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be given a $0.14 dividend. 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 22.05%.
In other news, CFO Andrew H. Beck sold 10,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $72.18, for a total value of $721,800.00. Following the completion of the sale, the chief financial officer now directly owns 142,079 shares of the company’s stock, valued at approximately $10,255,262.22. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Hans Bernd Veltmaat sold 750 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $66.52, for a total value of $49,890.00. Following the completion of the sale, the senior vice president now directly owns 68,552 shares of the company’s stock, valued at $4,560,079.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,750 shares of company stock valued at $844,690. 16.60% of the stock is currently owned by company insiders.
Several equities analysts have recently issued reports on the stock. Piper Jaffray Companies set a $68.00 price objective on shares of AGCO Corporation and gave the stock a “hold” rating in a research note on Wednesday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $73.00 price objective on shares of AGCO Corporation in a research note on Wednesday. BidaskClub cut shares of AGCO Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. UBS AG set a $72.00 price objective on shares of AGCO Corporation and gave the stock a “hold” rating in a research note on Saturday, October 21st. Finally, Bank of America Corporation cut shares of AGCO Corporation from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $74.65 to $70.00 in a research note on Friday, October 13th. Three 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. AGCO Corporation has an average rating of “Hold” and an average price target of $69.07.
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About AGCO Corporation
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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