Desjardins Issues Pessimistic Estimate for TSE:AFN Earnings

Ag Growth International Inc. (TSE:AFN - Free Report) - Desjardins dropped their FY2024 earnings per share (EPS) estimates for Ag Growth International in a research report issued to clients and investors on Wednesday, November 6th. Desjardins analyst G. Ho now expects that the company will earn $5.23 per share for the year, down from their previous forecast of $5.51. The consensus estimate for Ag Growth International's current full-year earnings is $6.58 per share. Desjardins also issued estimates for Ag Growth International's FY2025 earnings at $5.72 EPS and FY2026 earnings at $6.48 EPS.

Ag Growth International (TSE:AFN - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported C$1.42 earnings per share for the quarter, missing analysts' consensus estimates of C$1.67 by C($0.25). Ag Growth International had a return on equity of 10.35% and a net margin of 2.13%. The business had revenue of C$351.78 million during the quarter, compared to analysts' expectations of C$397.51 million.

A number of other research analysts have also recently issued reports on AFN. Raymond James cut Ag Growth International from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from C$72.00 to C$62.00 in a research note on Friday, October 18th. TD Securities decreased their target price on shares of Ag Growth International from C$79.00 to C$77.00 and set a "buy" rating for the company in a report on Monday, August 12th. Royal Bank of Canada cut their price target on shares of Ag Growth International from C$80.00 to C$75.00 in a report on Thursday. Finally, CIBC cut their price target on shares of Ag Growth International from C$75.00 to C$70.00 in a report on Thursday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Ag Growth International currently has a consensus rating of "Moderate Buy" and an average target price of C$74.56.

Ag Growth International Stock Up 0.0 %

TSE:AFN traded up C$0.02 during mid-day trading on Friday, hitting C$52.65. 91,045 shares of the company's stock were exchanged, compared to its average volume of 64,824. The company has a market cap of C$1.00 billion, a PE ratio of 34.63, a P/E/G ratio of 1.30 and a beta of 2.29. The company has a debt-to-equity ratio of 298.35, a current ratio of 1.49 and a quick ratio of 0.84. Ag Growth International has a one year low of C$45.96 and a one year high of C$64.51. The business has a fifty day moving average price of C$52.47 and a 200 day moving average price of C$52.64.

Ag Growth International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, September 27th. Ag Growth International's dividend payout ratio is currently 39.47%.

About Ag Growth International

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.