Raymond James Comments on Ag Growth International Inc.’s Q2 2024 Earnings (TSE:AFN)

Ag Growth International Inc. (TSE:AFN) – Investment analysts at Raymond James raised their Q2 2024 earnings per share estimates for shares of Ag Growth International in a research note issued to investors on Wednesday, May 1st. Raymond James analyst S. Hansen now anticipates that the company will post earnings of $1.93 per share for the quarter, up from their previous estimate of $1.75. Raymond James has a “Outperform” rating and a $72.00 price objective on the stock. The consensus estimate for Ag Growth International’s current full-year earnings is $5.90 per share.

Ag Growth International (TSE:AFN) last posted its quarterly earnings data on Tuesday, March 5th. The company reported C$1.70 EPS for the quarter, beating the consensus estimate of C$1.08 by C$0.62. Ag Growth International had a return on equity of 23.61% and a net margin of 4.51%. The firm had revenue of C$379.32 million during the quarter, compared to the consensus estimate of C$414.68 million.

Several other analysts have also recently issued reports on AFN. Royal Bank of Canada upped their price objective on shares of Ag Growth International from C$75.00 to C$80.00 and gave the company an “outperform” rating in a research note on Friday, March 8th. Desjardins dropped their price target on Ag Growth International from C$86.00 to C$78.00 and set a “buy” rating for the company in a research report on Wednesday. Scotiabank reduced their price objective on Ag Growth International from C$88.00 to C$75.00 and set an “outperform” rating on the stock in a research report on Wednesday. CIBC upped their target price on Ag Growth International from C$78.00 to C$82.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Finally, National Bankshares cut their target price on Ag Growth International from C$82.00 to C$77.00 and set an “outperform” rating for the company in a research note on Wednesday. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Ag Growth International currently has an average rating of “Buy” and a consensus price target of C$78.22.

Ag Growth International Price Performance

Shares of TSE AFN opened at C$50.07 on Friday. The firm has a 50-day simple moving average of C$60.36 and a 200-day simple moving average of C$55.28. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 285.22. The stock has a market capitalization of C$951.83 million, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 1.30 and a beta of 2.32. Ag Growth International has a 52 week low of C$47.07 and a 52 week high of C$64.51.

Ag Growth International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Wednesday, March 27th. Ag Growth International’s payout ratio is 17.44%.

Ag Growth International Company Profile

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.