AGCO Co. Declares Quarterly Dividend of $0.29 (NYSE:AGCO)

AGCO Co. (NYSE:AGCO) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.29 per share by the industrial products company on Friday, June 14th. This represents a $1.16 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, May 14th.

AGCO has raised its dividend by an average of 20.2% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. AGCO has a dividend payout ratio of 9.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect AGCO to earn $12.61 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 9.2%.

AGCO Stock Performance

AGCO stock traded down $1.06 during trading on Friday, reaching $116.61. The stock had a trading volume of 664,104 shares, compared to its average volume of 583,150. AGCO has a 52 week low of $105.77 and a 52 week high of $140.46. The company has a current ratio of 1.46, a quick ratio of 0.67 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.70 billion, a PE ratio of 7.46, a PEG ratio of 0.67 and a beta of 1.31. The stock’s 50 day moving average is $116.03 and its two-hundred day moving average is $117.16.

AGCO (NYSE:AGCO) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $3.78 EPS for the quarter, missing analysts’ consensus estimates of $4.03 by ($0.25). The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $4.03 billion. AGCO had a return on equity of 26.96% and a net margin of 8.13%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.47 earnings per share. As a group, equities analysts anticipate that AGCO will post 13.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AGCO has been the subject of a number of analyst reports. StockNews.com cut AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Oppenheimer raised their target price on AGCO from $153.00 to $154.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. raised their target price on AGCO from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Truist Financial began coverage on AGCO in a research report on Thursday, March 14th. They set a “buy” rating and a $142.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, AGCO currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.50.

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.