AGCO Corporation (NYSE:AGCO) Expected to Announce Quarterly Sales of $1.84 Billion

Wall Street analysts predict that AGCO Corporation (NYSE:AGCO) will report sales of $1.84 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for AGCO Corporation’s earnings, with the highest sales estimate coming in at $1.90 billion and the lowest estimate coming in at $1.79 billion. AGCO Corporation reported sales of $1.76 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.5%. The business is scheduled to announce its next quarterly earnings results on Wednesday, October 25th.

According to Zacks, analysts expect that AGCO Corporation will report full year sales of $1.84 billion for the current year, with estimates ranging from $7.65 billion to $7.85 billion. For the next fiscal year, analysts expect that the firm will post sales of $8.10 billion per share, with estimates ranging from $7.98 billion to $8.30 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for AGCO Corporation.

AGCO Corporation (NYSE:AGCO) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $1.15 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the business earned $1.25 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis.

A number of equities research analysts have weighed in on AGCO shares. TheStreet upgraded AGCO Corporation from a “c+” rating to a “b+” rating in a research note on Thursday. Zacks Investment Research upgraded AGCO Corporation from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, April 11th. BidaskClub upgraded AGCO Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Credit Suisse Group set a $60.00 price objective on AGCO Corporation and gave the company a “hold” rating in a research note on Wednesday, April 12th. Finally, Stifel Nicolaus began coverage on AGCO Corporation in a research note on Monday, April 10th. They set a “hold” rating and a $64.00 price objective for the company. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.73.

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Shares of AGCO Corporation (AGCO) opened at 71.94 on Monday. The firm has a 50-day moving average price of $68.87 and a 200-day moving average price of $63.86. AGCO Corporation has a 52 week low of $46.22 and a 52 week high of $73.97. The stock has a market cap of $5.72 billion, a PE ratio of 31.46 and a beta of 0.85.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued 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 24.56%.

In related news, SVP Lucinda B. Smith sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $64.00, for a total value 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 document filed with the SEC, which is available at the SEC website. Also, VP Richard Robinson Smith sold 2,037 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $63.91, for a total value of $130,184.67. Following the completion of 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. Company insiders own 16.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its stake in shares of AGCO Corporation by 22.2% in the first quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the industrial products company’s stock valued at $132,000 after buying an additional 400 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of AGCO Corporation by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,367 shares of the industrial products company’s stock valued at $203,000 after buying an additional 106 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of AGCO Corporation by 59.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,500 shares of the industrial products company’s stock valued at $211,000 after buying an additional 1,300 shares during the period. Eqis Capital Management Inc. bought a new stake in shares of AGCO Corporation during the first quarter valued at about $246,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in shares of AGCO Corporation during the first quarter valued at about $246,000. 84.20% of the stock is currently owned by institutional investors and hedge funds.

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.

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