AGCO Corporation (NYSE:AGCO) Releases FY17 Earnings Guidance

AGCO Corporation (NYSE:AGCO) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ~$3.00 for the period, compared to the Thomson Reuters consensus estimate of $2.77. The company issued revenue guidance of $8.0 billion, compared to the consensus revenue estimate of $7.72 billion.

A number of brokerages recently issued reports on AGCO. Credit Suisse Group set a $60.00 price objective on AGCO Corporation and gave the company a hold rating in a research note on Sunday, April 30th. J P Morgan Chase & Co upgraded AGCO Corporation from an underweight rating to a neutral rating and boosted their price objective for the company from $47.00 to $60.00 in a research note on Monday, May 1st. UBS AG restated a sell rating and issued a $52.00 price objective (up from $38.00) on shares of AGCO Corporation in a research note on Friday, May 5th. TheStreet upgraded AGCO Corporation from a c+ rating to a b+ rating in a research note on Thursday. Finally, BidaskClub cut AGCO Corporation from a strong-buy rating to a buy rating in a research note on Friday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $63.73.

Shares of AGCO Corporation (NYSE AGCO) opened at 71.94 on Friday. The company has a market capitalization of $5.72 billion, a PE ratio of 40.85 and a beta of 0.85. AGCO Corporation has a 12 month low of $46.22 and a 12 month high of $73.97. The stock’s 50 day moving average price is $68.87 and its 200 day moving average price is $63.86.

AGCO Corporation (NYSE:AGCO) last posted its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.04 by $0.11. AGCO Corporation had a return on equity of 6.84% and a net margin of 2.40%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the company earned $1.25 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts forecast that AGCO Corporation will post $2.94 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, August 11th. AGCO Corporation’s dividend payout ratio (DPR) is currently 24.56%.

In related news, SVP Lucinda B. Smith sold 5,000 shares of AGCO Corporation stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $64.00, for a total transaction of $320,000.00. Following the sale, the senior vice president now owns 40,977 shares of the company’s stock, valued at approximately $2,622,528. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Robinson Smith sold 2,037 shares of AGCO Corporation stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $63.91, for a total value of $130,184.67. Following the sale, the vice president now directly owns 41,717 shares in the company, valued at approximately $2,666,133.47. The disclosure for this sale can be found here. 16.60% of the stock is currently owned by company insiders.

TRADEMARK VIOLATION WARNING: This article was first reported by [[site]] and is the sole property of of [[site]]. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at [[permalink]].

About AGCO Corporation

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.