AGCO Co. (AGCO) Expected to Announce Quarterly Sales of $1.86 Billion

Wall Street brokerages predict that AGCO Co. (NYSE:AGCO) will post sales of $1.86 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for AGCO’s earnings, with the lowest sales estimate coming in at $1.80 billion and the highest estimate coming in at $1.91 billion. AGCO reported sales of $1.63 billion in the same quarter last year, which indicates a positive year over year growth rate of 14.1%. The firm is scheduled to announce its next earnings results on Friday, April 27th.

On average, analysts expect that AGCO will report full year sales of $1.86 billion for the current year, with estimates ranging from $8.98 billion to $9.27 billion. For the next financial year, analysts anticipate that the business will post sales of $9.54 billion per share, with estimates ranging from $9.28 billion to $10.00 billion. Zacks’ sales averages are an average based on a survey of analysts that follow AGCO.

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AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.01). The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.40 billion. AGCO had a return on equity of 8.04% and a net margin of 2.24%. AGCO’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share.

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada restated a “hold” rating and issued a $79.00 price objective on shares of AGCO in a research note on Thursday, January 11th. Seaport Global Securities restated a “hold” rating on shares of AGCO in a research note on Thursday, January 18th. Stifel Nicolaus restated a “hold” rating and issued a $73.00 price objective on shares of AGCO in a research note on Thursday, December 21st. Barclays assumed coverage on AGCO in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $75.00 price objective on the stock. Finally, Credit Suisse Group lowered their price objective on AGCO from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $72.80.

In other news, VP Richard Robinson Smith sold 1,316 shares of the company’s stock in a transaction dated Saturday, May 19th. The stock was sold at an average price of $54.05, for a total transaction of $71,129.80. Following the sale, the vice president now directly owns 35,068 shares in the company, valued at $1,895,425.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders have sold 4,385 shares of company stock worth $268,581. Company insiders own 16.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of AGCO by 5.9% during the fourth quarter. BlackRock Inc. now owns 6,754,418 shares of the industrial products company’s stock valued at $482,468,000 after buying an additional 378,009 shares during the period. Victory Capital Management Inc. increased its position in shares of AGCO by 8.7% during the fourth quarter. Victory Capital Management Inc. now owns 2,789,037 shares of the industrial products company’s stock valued at $199,221,000 after buying an additional 223,112 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of AGCO by 1,020.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 2,354,033 shares of the industrial products company’s stock valued at $168,149,000 after buying an additional 2,143,931 shares during the period. Schroder Investment Management Group increased its position in shares of AGCO by 11.9% during the fourth quarter. Schroder Investment Management Group now owns 1,149,232 shares of the industrial products company’s stock valued at $82,090,000 after buying an additional 122,435 shares during the period. Finally, Millennium Management LLC increased its position in shares of AGCO by 470.8% during the fourth quarter. Millennium Management LLC now owns 701,499 shares of the industrial products company’s stock valued at $50,108,000 after buying an additional 578,604 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Shares of AGCO stock opened at $64.76 on Friday. AGCO has a 52-week low of $58.01 and a 52-week high of $75.95. The stock has a market capitalization of $5,273.69, a P/E ratio of 21.44, a PEG ratio of 1.40 and a beta of 0.83. The company has a current ratio of 1.37, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, February 15th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, February 14th. This is a boost from AGCO’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.93%. AGCO’s dividend payout ratio is currently 19.87%.

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About AGCO

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.

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Earnings History and Estimates for AGCO (NYSE:AGCO)

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