Zacks: Brokerages Anticipate AGCO Co. (AGCO) Will Announce Quarterly Sales of $2.15 Billion

Analysts forecast that AGCO Co. (NYSE:AGCO) will announce sales of $2.15 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for AGCO’s earnings, with the lowest sales estimate coming in at $2.14 billion and the highest estimate coming in at $2.17 billion. AGCO reported sales of $1.99 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 8%. The business is expected to announce its next quarterly earnings report on Tuesday, October 30th.

According to Zacks, analysts expect that AGCO will report full year sales of $9.32 billion for the current fiscal year, with estimates ranging from $9.21 billion to $9.38 billion. For the next year, analysts anticipate that the firm will post sales of $9.73 billion per share, with estimates ranging from $9.52 billion to $9.93 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow AGCO.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. AGCO had a return on equity of 9.31% and a net margin of 2.44%. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the company earned $1.15 EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis.

AGCO has been the topic of several research analyst reports. TheStreet lowered AGCO from a “b” rating to a “c+” rating in a research note on Thursday, June 21st. Zacks Investment Research raised AGCO from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Tuesday, July 3rd. ValuEngine lowered AGCO from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. OTR Global lowered AGCO to a “$60.18” rating in a research note on Wednesday, July 18th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $70.00 price objective on shares of AGCO in a research note on Friday, July 20th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $71.00.

Shares of NYSE AGCO traded down $0.30 during midday trading on Monday, hitting $58.49. The stock had a trading volume of 822,875 shares, compared to its average volume of 584,679. The firm has a market capitalization of $4.68 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.00 and a beta of 0.72. AGCO has a 1-year low of $56.36 and a 1-year high of $75.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.42 and a quick ratio of 0.63.

The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Wednesday, August 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.03%. AGCO’s payout ratio is currently 19.87%.

Several large investors have recently made changes to their positions in AGCO. Massachusetts Financial Services Co. MA purchased a new stake in shares of AGCO during the 2nd quarter valued at about $84,249,000. Schwab Charles Investment Management Inc. raised its holdings in shares of AGCO by 145.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 665,338 shares of the industrial products company’s stock valued at $43,148,000 after buying an additional 394,136 shares during the period. Peregrine Capital Management LLC purchased a new stake in shares of AGCO during the 2nd quarter valued at about $17,506,000. Victory Capital Management Inc. raised its holdings in shares of AGCO by 6.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,844,955 shares of the industrial products company’s stock valued at $172,746,000 after buying an additional 173,818 shares during the period. Finally, Carillon Tower Advisers Inc. purchased a new stake in shares of AGCO during the 1st quarter valued at about $10,672,000. Institutional investors and hedge funds own 85.09% of the company’s stock.

AGCO Company Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. The company offers high horsepower tractors for larger farms, primarily for row crop production; 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, and residential uses.

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