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

AGCO Co. (NYSE:AGCO) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date 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% indicating that 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 Price Performance

Shares of AGCO traded down $1.06 during midday trading on Friday, hitting $116.61. 664,104 shares of the company traded hands, compared to its average volume of 583,150. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.67 and a current ratio of 1.46. AGCO has a 52 week low of $105.77 and a 52 week high of $140.46. The firm has a 50 day moving average of $116.03 and a 200-day moving average of $117.16. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 7.46, a PEG ratio of 0.67 and a beta of 1.31.

AGCO (NYSE:AGCO) last issued its 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 company had revenue of $3.80 billion for 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 business’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business posted $4.47 earnings per share. On average, analysts forecast that AGCO will post 13.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of AGCO from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. StockNews.com cut shares of AGCO from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Truist Financial initiated coverage on shares of AGCO in a report on Thursday, March 14th. They issued a “buy” rating and a $142.00 target price on the stock. Finally, Oppenheimer upped their price objective on shares of AGCO from $153.00 to $154.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, AGCO has an average rating of “Moderate Buy” and a consensus price target 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.