AGCO Corporation (AGCO) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $1.25 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.33. Analysts had a consensus of $0.92. The company posted revenue of $1995.60 million in the period, compared to analysts expectations of $1881.83 million. The company’s revenue was down -3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 EPS.
Many Wall Street Analysts have commented on AGCO Corporation. AGCO Corporation was Downgraded by Piper Jaffray to ” Underweight” on Jul 25, 2016. AGCO Corporation was Downgraded by JP Morgan to ” Underweight” on Jun 27, 2016.
AGCO Corporation closed down -0.32 points or -0.66% at $48.06 with 6,54,741 shares getting traded on Tusday. Post opening the session at $48.35, the shares hit an intraday low of $47.77 and an intraday high of $48.48 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
Investors should note that on Jul 26, 2016, AGCO Corporation announced a cash dividend of $0.1300. The company’s management has announced Aug 11, 2016 as the ex-dividend date and fixed the record date on Aug 15, 2016. The payable date has been fixed on Sep 15, 2016.
In a different news, on May 25, 2016, Gary L Collar (Sr. VP – General Manager, APAC) sold 5,168 shares at $51.01 per share price. According to the SEC, on May 4, 2016, Robert B Crain (Sr VP, Gen. Mgr. Americas) sold 1,500 shares at $53.01 per share price. On May 4, 2016, Martin Richenhagen (Chairman, President and CEO) sold 10,628 shares at $52.54 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.