AGCO Co. (NYSE:AGCO) Expected to Announce Quarterly Sales of $2.21 Billion

Share on StockTwits

Equities analysts expect that AGCO Co. (NYSE:AGCO) will post $2.21 billion in sales for the current quarter, according to Zacks. Five analysts have provided estimates for AGCO’s earnings. The lowest sales estimate is $2.10 billion and the highest is $2.28 billion. AGCO also posted sales of $2.21 billion during the same quarter last year. The business is expected to report its next earnings results before the market opens on Tuesday, October 29th.

On average, analysts expect that AGCO will report full-year sales of $9.31 billion for the current year, with estimates ranging from $9.17 billion to $9.40 billion. For the next financial year, analysts forecast that the business will report sales of $9.66 billion, with estimates ranging from $9.46 billion to $9.84 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow AGCO.

AGCO (NYSE:AGCO) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. AGCO had a net margin of 4.07% and a return on equity of 12.64%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the company posted $1.32 EPS. The company’s quarterly revenue was down 4.5% compared to the same quarter last year.

Several research firms have recently commented on AGCO. Jefferies Financial Group raised shares of AGCO from a “hold” rating to a “buy” rating and raised their target price for the stock from $70.00 to $90.00 in a research report on Monday, June 24th. Royal Bank of Canada set a $88.00 target price on shares of AGCO and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Stephens began coverage on shares of AGCO in a research report on Wednesday, August 14th. They issued an “overweight” rating and a $80.00 target price for the company. Deutsche Bank set a $88.00 target price on shares of AGCO and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, OTR Global raised shares of AGCO to a “positive” rating in a research report on Friday, July 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $78.93.

Shares of NYSE:AGCO traded up $1.29 on Thursday, hitting $76.54. The company had a trading volume of 434,667 shares, compared to its average volume of 592,955. The firm’s 50-day simple moving average is $73.98 and its two-hundred day simple moving average is $72.50. AGCO has a 1 year low of $49.50 and a 1 year high of $80.64. The company has a quick ratio of 0.54, a current ratio of 1.29 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 1.06 and a beta of 0.97.

In related news, CFO Andrew H. Beck sold 10,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $71.17, for a total value of $711,700.00. Following the completion of the transaction, the chief financial officer now directly owns 178,776 shares in the company, valued at approximately $12,723,487.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Lara Thrush Long sold 2,326 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $73.05, for a total transaction of $169,914.30. Following the completion of the transaction, the chief accounting officer now owns 3,991 shares of the company’s stock, valued at $291,542.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,977 shares of company stock valued at $3,012,468. 17.60% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of AGCO. Steward Partners Investment Advisory LLC purchased a new stake in shares of AGCO during the 2nd quarter valued at about $50,000. First Interstate Bank purchased a new stake in shares of AGCO during the 2nd quarter valued at about $61,000. Doyle Wealth Management purchased a new stake in shares of AGCO during the 2nd quarter valued at about $78,000. SRS Capital Advisors Inc. purchased a new stake in shares of AGCO during the 2nd quarter valued at about $87,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of AGCO during the 2nd quarter valued at about $93,000. Institutional investors own 81.82% of the company’s stock.

About AGCO

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

Further Reading: How is the LIBOR rate calculated?

Get a free copy of the Zacks research report on AGCO (AGCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for AGCO (NYSE:AGCO)

Receive News & Ratings for AGCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AGCO and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Toromont Industries Ltd  Director Sells C$364,520.00 in Stock
Toromont Industries Ltd Director Sells C$364,520.00 in Stock
Pegasystems Inc.  CFO Sells $343,697.56 in Stock
Pegasystems Inc. CFO Sells $343,697.56 in Stock
Magna International  PT Raised to $60.00
Magna International PT Raised to $60.00
Barclays Increases Everest Re Group  Price Target to $317.00
Barclays Increases Everest Re Group Price Target to $317.00
Whiting Petroleum Corp to Post FY2019 Earnings of  Per Share, Piper Jaffray Companies Forecasts
Whiting Petroleum Corp to Post FY2019 Earnings of Per Share, Piper Jaffray Companies Forecasts
FleetCor Technologies  PT Raised to $341.00
FleetCor Technologies PT Raised to $341.00


© 2006-2019 Ticker Report