AGCO (NYSE:AGCO – Get Free Report) issued its quarterly earnings data on Thursday. The industrial products company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.03, Briefing.com reports. AGCO had a return on equity of 24.02% and a net margin of 7.90%. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the business posted $3.51 earnings per share. The firm’s revenue for the quarter was down 12.1% compared to the same quarter last year. AGCO updated its FY24 guidance to ~$12.00 EPS.
AGCO Stock Up 1.1 %
NYSE AGCO traded up $1.18 during trading on Friday, reaching $111.81. 1,097,646 shares of the company’s stock were exchanged, compared to its average volume of 709,208. AGCO has a 1 year low of $105.77 and a 1 year high of $140.46. The stock has a market cap of $8.34 billion, a P/E ratio of 7.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.67 and a current ratio of 1.99. The company has a 50 day moving average price of $116.61 and a two-hundred day moving average price of $116.90.
AGCO Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.04%. AGCO’s payout ratio is currently 7.85%.
Analyst Upgrades and Downgrades
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AGCO Company Profile
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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