Zacks: Analysts Expect AGCO Co. (NYSE:AGCO) Will Post Quarterly Sales of $2.87 Billion

Wall Street analysts predict that AGCO Co. (NYSE:AGCO) will post sales of $2.87 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for AGCO’s earnings, with the highest sales estimate coming in at $2.93 billion and the lowest estimate coming in at $2.81 billion. AGCO posted sales of $2.50 billion during the same quarter last year, which suggests a positive year over year growth rate of 14.8%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, October 28th.

According to Zacks, analysts expect that AGCO will report full year sales of $11.38 billion for the current year, with estimates ranging from $11.30 billion to $11.45 billion. For the next year, analysts expect that the firm will post sales of $11.96 billion, with estimates ranging from $11.50 billion to $12.58 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow AGCO.

AGCO (NYSE:AGCO) last issued its quarterly earnings data on Thursday, July 29th. The industrial products company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.71. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.74 billion. AGCO had a net margin of 6.94% and a return on equity of 21.26%.

A number of brokerages have weighed in on AGCO. Credit Suisse Group upped their price objective on shares of AGCO from $160.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th. Morgan Stanley reduced their price target on shares of AGCO from $170.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup upped their price target on shares of AGCO from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of AGCO from $151.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group upgraded shares of AGCO from a “neutral” rating to a “buy” rating and set a $161.00 price target for the company in a research report on Tuesday, August 24th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $147.36.

In related news, SVP Kelvin Eugene Bennett sold 1,750 shares of the stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $138.37, for a total transaction of $242,147.50. Following the completion of the transaction, the senior vice president now owns 7,746 shares of the company’s stock, valued at approximately $1,071,814.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Hans Bernd Veltmaat sold 5,050 shares of the stock in a transaction that occurred on Tuesday, August 31st. The stock was sold at an average price of $138.28, for a total transaction of $698,314.00. Following the transaction, the senior vice president now directly owns 125,590 shares of the company’s stock, valued at approximately $17,366,585.20. The disclosure for this sale can be found here. Corporate insiders own 17.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alaethes Wealth LLC purchased a new position in shares of AGCO in the 2nd quarter valued at $26,000. Dark Forest Capital Management LP purchased a new position in AGCO during the 2nd quarter worth $49,000. Advisory Services Network LLC purchased a new position in AGCO during the 2nd quarter worth $53,000. Deseret Mutual Benefit Administrators purchased a new position in AGCO during the 2nd quarter worth $85,000. Finally, First Horizon Advisors Inc. grew its position in AGCO by 1,244.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 726 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 672 shares during the last quarter. Institutional investors and hedge funds own 76.16% of the company’s stock.

Shares of AGCO stock traded up $2.66 during trading hours on Monday, reaching $127.94. The stock had a trading volume of 8,288 shares, compared to its average volume of 627,057. The stock’s 50 day moving average is $131.57 and its 200 day moving average is $135.33. The firm has a market capitalization of $9.64 billion, a PE ratio of 13.06, a PEG ratio of 0.69 and a beta of 1.33. AGCO has a twelve month low of $74.76 and a twelve month high of $158.62. The company has a current ratio of 1.31, a quick ratio of 0.57 and a debt-to-equity ratio of 0.38.

About AGCO

AGCO Corp. engages in the manufacture and distribution of agricultural equipment and related replacement parts. It operates through the following geographic segments: North America; South America; Europe and Middle East; and Asia, Pacific, and Africa. The Asia/Pacific/Africa segment includes the regions of Australia and New Zealand.

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Earnings History and Estimates for AGCO (NYSE:AGCO)

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