AGCO Co. (NYSE:AGCO) Announces $0.29 Quarterly Dividend

AGCO Co. (NYSE:AGCO) announced a quarterly dividend on Thursday, January 16th,RTT News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.29 per share by the industrial products company on Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%.

AGCO has increased its dividend payment by an average of 15.1% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. AGCO has a payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AGCO to earn $4.22 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 27.5%.

AGCO Price Performance

AGCO opened at $100.00 on Friday. AGCO has a fifty-two week low of $84.35 and a fifty-two week high of $130.26. The firm has a 50-day moving average of $95.27 and a 200 day moving average of $94.92. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 1.53. The firm has a market cap of $7.46 billion, a P/E ratio of 44.25, a PEG ratio of 0.90 and a beta of 1.25.

AGCO (NYSE:AGCO) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.40). AGCO had a return on equity of 15.79% and a net margin of 1.35%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the business earned $3.97 EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, research analysts expect that AGCO will post 7.34 EPS for the current year.

Analyst Upgrades and Downgrades

AGCO has been the topic of a number of research reports. Oppenheimer lowered their price objective on AGCO from $131.00 to $111.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Truist Financial raised their price objective on shares of AGCO from $109.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup dropped their target price on AGCO from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday. StockNews.com upgraded AGCO from a “sell” rating to a “hold” rating in a research report on Thursday, December 19th. Finally, Morgan Stanley assumed coverage on AGCO in a report on Tuesday, December 3rd. They set an “equal weight” rating and a $101.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $107.40.

About AGCO

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.