Shares of Agco Corp. (NYSE:AGCO) have been assigned an average recommendation of “Hold” from the fourteen research firms that are presently covering the stock. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $47.82.
A number of brokerages have recently commented on AGCO. Zacks Investment Research upgraded Agco Corp. from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Tuesday, June 21st. Citigroup Inc. cut their price objective on Agco Corp. from $55.00 to $53.00 and set a “neutral” rating for the company in a research report on Friday, July 15th. Piper Jaffray Cos. cut their price objective on Agco Corp. from $47.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, August 25th. Credit Suisse Group AG reiterated a “hold” rating and set a $53.00 price objective on shares of Agco Corp. in a research report on Tuesday, August 30th. Finally, Jefferies Group restated a “buy” rating on shares of Agco Corp. in a report on Friday, August 5th.
Shares of Agco Corp. (NYSE:AGCO) opened at 49.29 on Thursday. The stock has a market cap of $4.00 billion, a P/E ratio of 22.15 and a beta of 1.32. The firm’s 50-day moving average price is $47.90 and its 200-day moving average price is $49.78. Agco Corp. has a 52-week low of $42.40 and a 52-week high of $56.00.
Agco Corp. (NYSE:AGCO) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. Agco Corp. had a return on equity of 7.72% and a net margin of 2.58%. The company earned $2 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Agco Corp. will post $2.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 15th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.05%. The ex-dividend date was Thursday, August 11th. Agco Corp.’s payout ratio is 23.64%.
A number of institutional investors have recently bought and sold shares of AGCO. BARING ASSET MANAGEMENT Ltd increased its position in Agco Corp. by 70.1% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 218,651 shares of the company’s stock valued at $10,305,000 after buying an additional 90,107 shares during the last quarter. Creative Planning increased its position in Agco Corp. by 14.3% in the second quarter. Creative Planning now owns 11,366 shares of the company’s stock valued at $536,000 after buying an additional 1,421 shares during the last quarter. Tobam acquired a new position in Agco Corp. during the first quarter valued at approximately $3,085,000. Natixis acquired a new position in Agco Corp. during the first quarter valued at approximately $3,976,000. Finally, Impax Asset Management LTD increased its position in Agco Corp. by 58.6% in the second quarter. Impax Asset Management LTD now owns 68,980 shares of the company’s stock valued at $3,251,000 after buying an additional 25,500 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.
About Agco Corp.
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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