Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Agco Corp. from a hold rating to a buy rating and set a $59.00 target price on the stock in a research report on Tuesday, June 21st. Jefferies Group reaffirmed a buy rating on shares of Agco Corp. in a research report on Friday, August 5th. Barclays PLC reaffirmed an equal weight rating and issued a $43.00 price objective on shares of Agco Corp. in a research report on Tuesday, July 12th. Morgan Stanley set a $54.00 price objective on Agco Corp. and gave the company a hold rating in a research report on Friday, August 5th. Finally, Deutsche Bank AG started coverage on Agco Corp. in a research report on Tuesday, September 6th. They issued a hold rating and a $54.00 price objective on the stock. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $49.00.
Shares of Agco Corp. (NYSE:AGCO) opened at 52.00 on Monday. The company has a 50-day moving average price of $48.37 and a 200-day moving average price of $49.76. Agco Corp. has a 52 week low of $42.40 and a 52 week high of $56.00. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 23.37 and a beta of 1.32.
Agco Corp. (NYSE:AGCO) last released its earnings results on Thursday, August 4th. The company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.10. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.88 billion. Agco Corp. had a return on equity of 7.72% and a net margin of 2.58%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS. Equities analysts anticipate that Agco Corp. will post $2.31 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, August 11th. Agco Corp.’s dividend payout ratio is 23.64%.
Several large investors have recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new stake in shares of Agco Corp. during the third quarter valued at $256,000. Creative Planning boosted its stake in shares of Agco Corp. by 0.6% in the third quarter. Creative Planning now owns 11,434 shares of the company’s stock valued at $564,000 after buying an additional 68 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Agco Corp. by 3.2% in the third quarter. Raymond James Trust N.A. now owns 8,328 shares of the company’s stock valued at $410,000 after buying an additional 256 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Agco Corp. by 199.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 117,047 shares of the company’s stock valued at $5,773,000 after buying an additional 78,020 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in shares of Agco Corp. during the second quarter valued at $1,524,000. Institutional investors and hedge funds own 88.67% of the company’s stock.
Agco Corp. Company Profile
AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems.
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