AGCO (NYSE:AGCO – Get Free Report) posted its earnings results on Tuesday. The industrial products company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.40), Briefing.com reports. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the business earned $3.97 EPS. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. AGCO updated its FY 2024 guidance to 7.500-7.500 EPS and its FY24 guidance to approx $7.50 EPS.
AGCO Trading Up 3.4 %
Shares of AGCO stock traded up $3.05 during trading hours on Wednesday, reaching $93.28. The company’s stock had a trading volume of 626,615 shares, compared to its average volume of 766,423. The company has a current ratio of 1.52, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $6.96 billion, a P/E ratio of 16.73, a P/E/G ratio of 0.94 and a beta of 1.25. The firm’s fifty day simple moving average is $95.52 and its 200 day simple moving average is $99.57. AGCO has a one year low of $84.35 and a one year high of $130.26.
AGCO Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, November 15th. AGCO’s payout ratio is 20.71%.
Analysts Set New Price Targets
Read Our Latest Analysis on AGCO
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.
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