Ag Growth International Inc. (TSE:AFN) Expected to Earn Q2 2024 Earnings of $1.93 Per Share

Ag Growth International Inc. (TSE:AFN) – Equities researchers at Raymond James boosted their Q2 2024 earnings estimates for Ag Growth International in a research report issued to clients and investors on Wednesday, May 1st. Raymond James analyst S. Hansen now forecasts that the company will post earnings of $1.93 per share for the quarter, up from their previous estimate of $1.75. Raymond James has a “Outperform” rating and a $72.00 price objective on the stock. The consensus estimate for Ag Growth International’s current full-year earnings is $5.90 per share.

A number of other equities analysts also recently weighed in on the company. CIBC upped their target price on Ag Growth International from C$78.00 to C$82.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Desjardins dropped their target price on Ag Growth International from C$86.00 to C$78.00 and set a “buy” rating on the stock in a report on Wednesday. Scotiabank dropped their target price on Ag Growth International from C$88.00 to C$75.00 and set an “outperform” rating on the stock in a report on Wednesday. ATB Capital lowered their price target on Ag Growth International from C$85.00 to C$81.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, National Bankshares lowered their price target on Ag Growth International from C$82.00 to C$77.00 and set an “outperform” rating for the company in a research note on Wednesday. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Ag Growth International presently has an average rating of “Buy” and a consensus price target of C$78.22.

Ag Growth International Price Performance

Shares of AFN opened at C$50.07 on Friday. The company has a market capitalization of C$951.83 million, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.30 and a beta of 2.32. Ag Growth International has a fifty-two week low of C$47.07 and a fifty-two week high of C$64.51. The company has a debt-to-equity ratio of 285.22, a current ratio of 1.21 and a quick ratio of 0.84. The business’s 50-day moving average is C$60.49 and its 200-day moving average is C$55.28.

Ag Growth International (TSE:AFN) last posted its quarterly earnings data on Tuesday, March 5th. The company reported C$1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.08 by C$0.62. The firm had revenue of C$379.32 million for the quarter, compared to the consensus estimate of C$414.68 million. Ag Growth International had a return on equity of 23.61% and a net margin of 4.51%.

Ag Growth International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. Ag Growth International’s payout ratio is currently 17.44%.

About Ag Growth International

Ag Growth International Inc, together with its subsidiaries, manufactures and sells equipment for the agriculture industry in Canada, the United States, and internationally. It operates through Farm and Commercial segments. The company offers grain, bolted, hopper, and smooth wall bins; temporary storage; unloads and sweeps systems; water tanks; secondary containment systems; fuel tanks; and storage accessories, as well as mixed flow dryers; fans and heaters; aeration products; vents and exhausters; and stirring systems.