AGCO Co. (NYSE:AGCO) Expected to Post Quarterly Sales of $2.87 Billion

Brokerages expect AGCO Co. (NYSE:AGCO) to post $2.87 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for AGCO’s earnings, with the lowest sales estimate coming in at $2.81 billion and the highest estimate coming in at $2.93 billion. AGCO reported sales of $2.50 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.8%. The business is scheduled to announce its next quarterly earnings report before the market opens on Thursday, October 28th.

According to Zacks, analysts expect that AGCO will report full year sales of $11.38 billion for the current year, with estimates ranging from $11.30 billion to $11.45 billion. For the next year, analysts anticipate that the business will post sales of $11.96 billion, with estimates ranging from $11.50 billion to $12.58 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for AGCO.

AGCO (NYSE:AGCO) last posted its quarterly earnings data on Thursday, July 29th. The industrial products company reported $2.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.71. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.74 billion. AGCO had a net margin of 6.94% and a return on equity of 21.26%.

A number of research analysts recently commented on AGCO shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of AGCO from $151.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of AGCO from a “neutral” rating to an “overweight” rating and set a $164.00 target price for the company in a research report on Tuesday, July 13th. Morgan Stanley cut their price objective on shares of AGCO from $170.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup boosted their price objective on shares of AGCO from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group raised shares of AGCO from a “neutral” rating to a “buy” rating and set a $161.00 price objective for the company in a research report on Tuesday, August 24th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $147.36.

In other AGCO news, SVP Hans Bernd Veltmaat sold 5,050 shares of the stock in a transaction on Tuesday, August 31st. The shares were sold at an average price of $138.28, for a total transaction of $698,314.00. Following the sale, the senior vice president now directly owns 125,590 shares of the company’s stock, valued at $17,366,585.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kelvin Eugene Bennett sold 1,750 shares of the stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $138.37, for a total transaction of $242,147.50. Following the sale, the senior vice president now directly owns 7,746 shares in the company, valued at $1,071,814.02. The disclosure for this sale can be found here. Insiders own 17.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its position in AGCO by 22.3% in the 1st quarter. Teacher Retirement System of Texas now owns 7,150 shares of the industrial products company’s stock valued at $1,027,000 after buying an additional 1,306 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in AGCO during the first quarter valued at about $370,000. Panagora Asset Management Inc. lifted its stake in AGCO by 150.0% during the first quarter. Panagora Asset Management Inc. now owns 7,644 shares of the industrial products company’s stock valued at $1,098,000 after buying an additional 4,586 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of AGCO by 6.9% in the first quarter. JPMorgan Chase & Co. now owns 797,704 shares of the industrial products company’s stock worth $114,591,000 after purchasing an additional 51,227 shares in the last quarter. Finally, Navellier & Associates Inc lifted its position in shares of AGCO by 8.2% in the first quarter. Navellier & Associates Inc now owns 6,471 shares of the industrial products company’s stock worth $930,000 after purchasing an additional 491 shares in the last quarter. Institutional investors and hedge funds own 76.16% of the company’s stock.

Shares of AGCO traded up $2.66 during midday trading on Monday, reaching $127.94. The stock had a trading volume of 8,288 shares, compared to its average volume of 627,057. AGCO has a 1-year low of $74.76 and a 1-year high of $158.62. The company’s fifty day simple moving average is $131.57 and its two-hundred day simple moving average is $135.33. The company has a market cap of $9.64 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.69 and a beta of 1.33. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.31 and a quick ratio of 0.57.

About AGCO

AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It operates through the following geographic segments: North America; South America; Europe and Middle East; and Asia, Pacific, and Africa. The Asia/Pacific/Africa segment includes the regions of Australia and New Zealand.

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Earnings History and Estimates for AGCO (NYSE:AGCO)

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