AGCO (AG) Investors See Green
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AGCO (NYSE: AG) is higher today following better-than-expected third quarter results, which were driven by the strong global farm equipment markets. The stock has moved 11% higher today to nearly $60 per share - marking a new 52-week high.
AGCO reported third quarter adjusted earnings of $0.77 per share, well above the Wall Street consensus of $0.30. Revenues for the quarter were $1.6 billion, also well above Wall Street's $1.37 billion view.
Looking ahead, AGCO said it sees full year earnings of $2.10-$2.20 per share, above the Wall Street consensus of $1.76. Full year net sales are expected to increase 20% versus last year.
AGCO investors are celebrating the strong results and subsequent stock run-up. Goldman Sachs Group, which holds an 11.4% stake, according to the latest StreetInsider.com data, has seen its investment increase in value by about $60 million today. Fidelity, which owns an 11.3% stake, has seen its investment grow by nearly the same amount.
Other large holders of AGCO include, Tradewinds Global Investors (6.4%), American Century (4.7%) and State Street (4.6%)
AGCO reported third quarter adjusted earnings of $0.77 per share, well above the Wall Street consensus of $0.30. Revenues for the quarter were $1.6 billion, also well above Wall Street's $1.37 billion view.
Looking ahead, AGCO said it sees full year earnings of $2.10-$2.20 per share, above the Wall Street consensus of $1.76. Full year net sales are expected to increase 20% versus last year.
AGCO investors are celebrating the strong results and subsequent stock run-up. Goldman Sachs Group, which holds an 11.4% stake, according to the latest StreetInsider.com data, has seen its investment increase in value by about $60 million today. Fidelity, which owns an 11.3% stake, has seen its investment grow by nearly the same amount.
Other large holders of AGCO include, Tradewinds Global Investors (6.4%), American Century (4.7%) and State Street (4.6%)
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