AGCO Corporation (AGCO) Releases Earnings Results, Beats Expectations By $0.06 EPS

AGCO Corporation (AGCO) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.11 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.05. The company posted revenue of $1559.30 million in the period, compared to analysts expectations of $1470.72 million. The company’s revenue was down -8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on AGCO Corporation. Shares were Reiterated by RBC Capital Mkts on Feb 3, 2016 to “Sector Perform” and Lowered the Price Target to $ 45 from a previous price target of $46 .Shares were Reiterated by Barclays on Feb 3, 2016 to “Equal Weight” and Lowered the Price Target to $ 43 from a previous price target of $45 .

AGCO Corporation opened for trading at $52.61 and hit $53.45 on the upside on Friday, eventually ending the session at $53.04, with a gain of 0.97% or 0.51 points. The heightened volatility saw the trading volume jump to 9,84,007 shares. Company has a market cap of $4,373 M.

In a different news, on Aug 7, 2015, Gary L Collar (Sr. VP – General Manager, APAC) sold 3,000 shares at $57.00 per share price. According to the SEC, on Aug 7, 2015, Robert B Crain (Sr VP, Gen. Mgr. Americas) sold 3,000 shares at $56.25 per share price. On Aug 4, 2015, Andrew H Beck (Sr. VP and CFO) sold 3,809 shares at $54.87 per share price, according to the Form-4 filing with the securities and exchange commission.

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The Company sells a range of agricultural equipment including tractors combines self-propelled sprayers hay tools forage equipment seeding and tillage implements and grain storage and protein production systems. Its products are marketed under various brands including Challenger Fendt GSI Massey Ferguson and Valtra. It also provides retail financing through its finance joint ventures with Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. The Company’s geographical segments include North America South America Europe/Africa/Middle East and Asia/Pacific. The Company’s AGCO Power engines division produces diesel engines gears and generating sets. It also offers precision farming technologies which are installed in its products and include satellite-based steering field data collection yield mapping and telemetry-based fleet management systems.

AGCO Corporation

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