National Bank Financial Weighs in on Ag Growth International Inc’s FY2018 Earnings (AFN)

Ag Growth International Inc (TSE:AFN) – Investment analysts at National Bank Financial cut their FY2018 earnings per share estimates for Ag Growth International in a research note issued on Tuesday. National Bank Financial analyst G. Colman now expects that the company will earn $2.35 per share for the year, down from their prior estimate of $2.42. National Bank Financial has a “Outperform” rating and a $65.00 price objective on the stock.

Ag Growth International (TSE:AFN) last issued its earnings results on Friday, November 10th. The company reported C$0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.01 by C($0.22). Ag Growth International had a return on equity of 20.81% and a net margin of 7.54%. The firm had revenue of C$206.61 million during the quarter, compared to analysts’ expectations of C$225.50 million.

Several other brokerages have also recently weighed in on AFN. Royal Bank of Canada lowered their target price on Ag Growth International from C$63.00 to C$60.00 and set an “outperform” rating for the company in a report on Monday, November 13th. Scotiabank lowered their target price on Ag Growth International from C$65.00 to C$62.00 and set an “outperform” rating for the company in a report on Monday, November 13th. TD Securities upped their price objective on Ag Growth International from C$73.00 to C$75.00 and gave the stock an “action list buy” rating in a research note on Friday, January 19th. Laurentian decreased their price objective on Ag Growth International from C$70.00 to C$63.00 in a research note on Monday, November 13th. Finally, CIBC upped their price objective on Ag Growth International from C$65.00 to C$70.00 in a research note on Wednesday, January 10th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of C$64.75.

Shares of Ag Growth International (TSE AFN) traded up C$0.45 during mid-day trading on Thursday, hitting C$55.30. The company’s stock had a trading volume of 46,800 shares, compared to its average volume of 49,060. Ag Growth International has a twelve month low of C$47.08 and a twelve month high of C$60.63. The stock has a market cap of $893.70, a PE ratio of 36.62 and a beta of 1.30.

In related news, Director Gary Keith Anderson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of C$53.45, for a total transaction of C$320,700.00. Also, insider Timothy Jackson Close bought 1,298 shares of Ag Growth International stock in a transaction that occurred on Tuesday, November 14th. The shares were acquired at an average cost of C$50.24 per share, for a total transaction of C$65,211.52.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 15th will be paid a dividend of $0.20 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Tuesday, January 30th. Ag Growth International’s dividend payout ratio (DPR) is currently 158.94%.

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Ag Growth International Company Profile

Ag Growth International Inc is a Canada-based manufacturer of agricultural equipment. The Company focuses on grain handling, storage and conditioning products. The Company’s products service both Farm and Commercial markets, and sells to farmers, contractors and corporate entities. The Company manufactures in Canada, the United States and Europe.

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