AGCO (NYSE:AGCO – Get Free Report) posted its quarterly earnings data on Tuesday. The industrial products company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $2.90 by ($0.37), Briefing.com reports. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.48 billion. AGCO had a return on equity of 21.17% and a net margin of 3.13%. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.29 EPS. AGCO updated its FY24 guidance to approx $8.00 EPS and its FY 2024 guidance to 8.000-8.000 EPS.
AGCO Stock Performance
AGCO stock traded down $3.07 during trading hours on Thursday, reaching $91.35. 1,592,935 shares of the company were exchanged, compared to its average volume of 765,370. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 6.39, a PEG ratio of 0.90 and a beta of 1.27. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.89. The stock has a 50-day moving average of $100.90 and a 200 day moving average of $110.88. AGCO has a 12 month low of $90.64 and a 12 month high of $133.84.
AGCO Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 1.27%. AGCO’s payout ratio is currently 7.85%.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on AGCO
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.
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