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AGCO Corporation (AGCO)

  • Tue, Feb. 3, 8:07 AM
    • AGCO (NYSE:AGCO): Q4 EPS of $1.18 beats by $0.51.
    • Revenue of $2.48B (-13.3% Y/Y) beats by $60M.
    • Shares +3.1% PM.
    • Press Release
  • Oct. 7, 2014, 12:18 PM
    • AGCO (AGCO -7.7%) shares fell as much as 9% after the manufacturer and distributor of agricultural equipment slashed its FQ3 and full-year earnings outlook, saying it expects weak demand across all regions.
    • Deere (DE -1.9%), which caters to a similar clientele, also is falling, and Janney analyst Ryan Connors thinks AGCO’s news significantly increases the likelihood of further earnings downside for DE.
    • While sentiment on agricultural machinery stocks already is very negative, ultimately the trajectory of commodity prices over the next 12 months will determine how the stocks perform, Janney says, which makes visibility on DE poor or even non-existent.
    • Janney also downgrades AGCO to Neutral from Buy, and cuts its target price to $56 from $72.
    • Also: Deere lower on BofA/Merrill downgrade
  • Oct. 2, 2014, 2:59 PM
    • Fertilizer producers are mostly lower after Agrium (AGU -1.9%) announced weak guidance for H2 of its FY 2014: POT -2%, MOS -0.9%, OTCPK:YARIY -2.8%, IPI -2.3%, RNF -1.2%, but CF +2.4%.
    • Canaccord and Piper Jaffray downwardly revised their 12-month price targets for the stock, by a respective 1.9% to $102 while reiterating a Buy rating and by 4.2% to $92 while maintaining a Neutral rating; however, BMO and RBC each reiterated their Outperform ratings on the stock with respective target prices of $99 and $115.
    • Jim Cramer thinks AGU's woes could reverberate throughout the ag sector, at least in the near-term, with selling possibly spread to the likes of Monsanto (MON -0.4%), Syngenta (SYT +0.1%), Deere (DE +0.1%) and Agco (AGCO +1%).
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  • Aug. 22, 2014, 8:27 AM
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  • Dec. 17, 2013, 1:38 PM
    • The announcement of a $500M share repurchase program isn't enough to save the day for AGCO (AGCO -4.4%) after management - at this morning's Investor Meeting - expects headwinds to hitting $6 per share in earnings this year, and sees $6/share as likely in 2014.
    • Industry unit tractor sales are expected to fall 0-5% in North America, 5% in South America (amid an early end to Brazilian price supports), and 0-5% in Western Europe.
    • Presentation slides set #1, set #2
    • Deere (DE -0.6%) slips a bit, but AGCO has outperformed by more than 1,500 basis points this year.
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  • Apr. 30, 2013, 12:06 PM
    AGCO trades 4.8% higher after its earnings beat on both the top and bottom line. Revenue grew 26%, 31%, and 10% in South America, Asia/Pacific, and North America respectively and the company said it exceeded its Q1 operating margin targets as well. Farm economics are "attractive," CEO Martin Richenhagen says, noting that strong farm income in 2012 is driving high levels of "industry demand in North America." In addition to outstripping analyst estimates, the company raised its FY13 EPS outlook to $5.50-5.70 from previous guidance of $5.10-5.35. (PR)
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  • Mar. 20, 2013, 4:52 PM
    Weakness in the U.S. ag market outlook due to weaker commodity prices in the years ahead was at the heart of downgrades (I, II) that sent Deere (DE -3.1%) and Agco (AGCO -3.9%) lower today. Wells Fargo cut its outlook for 2014-15 U.S. large farm equipment demand as commodity prices return to normal along with growing conditions, and on moderating U.S. corn-based ethanol consumption.
  • Jun. 6, 2012, 10:54 AM
    Agco (AGCO +3.5%) is considering paying a regular dividend or buying back shares, CFO Andy Beck said yesterday, adding that the farm-equipment maker would hold internal discussions in H2. Like its rivals, Agco has been benefiting from strong demand, although its shares have fallen further than its peers this year.
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  • May. 1, 2012, 10:33 AM
    Farm equipment manufacturer Agco (AGCO +8%) pops after blowing out Q1 earnings estimates this morning. Net profit rose 50% Y/Y on a 23% jump in sales out of its Europe, Africa and Middle East operations, with the biggest growth coming from Germany, France and the UK. The company also raises estimates for FY12, now expecting an EPS of $5.50 on revenue of $10.2B - $10.5B. Street estimates were for an EPS of $5.07 on revenues of of $9.9B.
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  • May. 1, 2012, 9:13 AM
    AGCO (AGCO): Q1 EPS of $1.21 beats by $0.35. Revenue of $2.3B (+26.5% Y/Y) beats by $250M. Shares +9% premarket. (PR)
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  • Jan. 17, 2012, 2:21 PM
    Morgan Stanley opens up a 60-day tactical idea on Agco (AGCO +1.5%), saying it sees a falloff in share price over the next two months. Analysts with the firm discount the chance that the company will be snapped up in a takeover and forecast the high supply of corn in the market will pressure Agco's margins.
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  • Jan. 12, 2012, 9:57 AM
    Agriculture stocks open lower following the USDA's supply/demand report, which is slightly negative for grain prices due to an expected increase in global wheat and corn inventory levels. Fertilizer stocks: POT -4%, CF -3.9%, MOS -3.7%, IPI -3%, AGU -1.7%, RNF -1.2%. Seed names: MON -0.3%, SYT +0.3%. Farm equipment:AGCO -3.2%, TITN -1.7%, DE -1.5%, CNH -1.3%.
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  • Jan. 6, 2012, 3:26 PM
    Agco (AGCO +2.2%) pays $31M for a 60% stake in Santal Equipamentos, a Brazilian company that makes mechanized sugar-cane harvesters. Sugar-cane harvesters are expected to be hot sellers in Brazil over the coming years, as the government tries to eliminate the practice of burning fields to make the cane easier to cut by hand.
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  • Jan. 5, 2012, 1:28 PM
    Farm equipment maker AGCO rises 2% after CEO Martin Richenagen tells a German paper he won't rule out a merger with a competitor such as Caterpillar (CAT). He adds that strong demand will lift AGCO's 2012 revenue to $10B, which compares favorably with a $9.8B consensus.
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  • Dec. 20, 2011, 2:39 PM
    AGCO (AGCO +3.7%) trades up after Credit Suisse raised its estimates earlier today, citing a much more upbeat outlook following the company's analyst day last week. FY2012 and 2013 EPS estimates are raised to $4.80 and $4.50 respectively, reflecting the operational headway the company has made.
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  • Oct. 13, 2011, 2:35 PM
    Deere (DE -3.3%) shares sink in afternoon trade on a Bloomberg report that dealers are saying the company plans to deliver fewer combines in the U.S. as demand falls amid a glut of used machinery. Combines account for about a third of Deere’s North American farm equipment revenue and are its highest-margin products. CAT -0.9%, AGCO -2.5%, JOYG -1.9%.
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Company Description
AGCO Corp manufactures and distributes agricultural equipment and related replacement parts in various parts of the country. It sells a full range of agricultural equipment, including tractors, combines, self-propelled sprayers, among others.