Desjardins Comments on Ag Growth International Inc.’s FY2024 Earnings (TSE:AFN)

Ag Growth International Inc. (TSE:AFN) – Analysts at Desjardins decreased their FY2024 EPS estimates for Ag Growth International in a research note issued on Tuesday, April 30th. Desjardins analyst G. Ho now expects that the company will post earnings of $5.76 per share for the year, down from their previous estimate of $6.50. Desjardins has a “Buy” rating and a $78.00 price target on the stock. The consensus estimate for Ag Growth International’s current full-year earnings is $5.90 per share. Desjardins also issued estimates for Ag Growth International’s FY2025 earnings at $6.57 EPS.

Several other equities analysts also recently commented on the stock. Scotiabank lowered their target price on shares of Ag Growth International from C$88.00 to C$75.00 and set an “outperform” rating on the stock in a report on Wednesday. ATB Capital decreased their price target on shares of Ag Growth International from C$85.00 to C$81.00 and set an “outperform” rating for the company in a research report on Tuesday. TD Securities raised their price target on shares of Ag Growth International from C$75.00 to C$83.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Raymond James raised their price objective on shares of Ag Growth International from C$64.00 to C$72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Finally, National Bankshares dropped their price objective on shares of 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. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ag Growth International currently has a consensus rating of “Buy” and an average target price of C$78.22.

Ag Growth International Stock Performance

AFN opened at C$50.35 on Friday. The firm has a market cap of C$957.15 million, a P/E ratio of 14.49, a PEG ratio of 1.30 and a beta of 2.32. Ag Growth International has a 1-year low of C$47.07 and a 1-year high of C$64.51. The company has a 50 day simple moving average of C$60.49 and a two-hundred day simple moving average of C$55.28. 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) last announced its earnings results on Tuesday, March 5th. The company reported C$1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.08 by C$0.62. The company had revenue of C$379.32 million during the quarter, compared to analyst estimates of C$414.68 million. Ag Growth International had a net margin of 4.51% and a return on equity of 23.61%.

Ag Growth International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.19%. Ag Growth International’s dividend payout ratio 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.