AGCO (NYSE:AGCO) Updates FY24 Earnings Guidance

AGCO (NYSE:AGCO - Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of approx $7.50 for the period, compared to the consensus EPS estimate of $7.93. The company issued revenue guidance of approx $12.00 billion, compared to the consensus revenue estimate of $12.43 billion. AGCO also updated its FY 2024 guidance to 7.500-7.500 EPS.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AGCO shares. The Goldman Sachs Group decreased their price objective on AGCO from $127.00 to $112.00 and set a "neutral" rating for the company in a report on Thursday, July 11th. Barclays lowered their price target on AGCO from $145.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 18th. Robert W. Baird cut their price objective on AGCO from $139.00 to $129.00 and set an "outperform" rating for the company in a report on Wednesday, July 31st. StockNews.com downgraded shares of AGCO from a "hold" rating to a "sell" rating in a report on Thursday, August 1st. Finally, BMO Capital Markets began coverage on shares of AGCO in a research note on Friday, August 9th. They issued a "market perform" rating and a $96.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $117.80.

AGCO Stock Performance

AGCO stock traded down $7.64 during trading hours on Tuesday, hitting $90.23. The company had a trading volume of 2,241,589 shares, compared to its average volume of 767,077. AGCO has a one year low of $84.35 and a one year high of $130.26. The firm has a market cap of $6.73 billion, a PE ratio of 16.11, a PEG ratio of 0.94 and a beta of 1.25. The firm has a 50-day moving average of $95.51 and a 200 day moving average of $99.77. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.52 and a quick ratio of 0.72.

AGCO Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 1.29%. AGCO's dividend payout ratio (DPR) is presently 20.71%.

Insiders Place Their Bets

In other AGCO news, Director Michael C. Arnold purchased 1,800 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $87.69 per share, for a total transaction of $157,842.00. Following the completion of the purchase, the director now owns 20,465 shares of the company's stock, valued at approximately $1,794,575.85. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.80% of the company's stock.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; 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, equestrian, and residential uses.