AGCO (NYSE:AGCO – Get Free Report) issued its earnings results on Tuesday. The industrial products company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.90 by ($0.37), Briefing.com reports. AGCO had a net margin of 3.13% and a return on equity of 21.17%. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the previous year, the company posted $4.29 earnings per share. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. AGCO updated its FY24 guidance to approx $8.00 EPS and its FY 2024 guidance to 8.000-8.000 EPS.
AGCO Trading Down 3.3 %
Shares of AGCO traded down $3.07 during mid-day trading on Thursday, reaching $91.35. The company had a trading volume of 1,593,818 shares, compared to its average volume of 765,370. The firm has a fifty day simple moving average of $100.90 and a 200-day simple moving average of $110.88. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 6.39, a price-to-earnings-growth ratio of 0.90 and a beta of 1.27. AGCO has a fifty-two week low of $90.64 and a fifty-two week high of $133.84. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.89.
AGCO Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 annualized dividend and a yield of 1.27%. AGCO’s payout ratio is currently 7.85%.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on AGCO
AGCO Company Profile
AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; 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, equestrian, and residential uses.
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