Desjardins Research Analysts Decrease Earnings Estimates for Ag Growth International Inc. (TSE:AFN)

Ag Growth International Inc. (TSE:AFN) – Equities researchers at Desjardins lowered their FY2024 EPS estimates for Ag Growth International in a report issued on Tuesday, April 30th. Desjardins analyst G. Ho now expects that the company will post earnings of $5.76 per share for the year, down from their prior estimate of $6.50. Desjardins currently has a “Buy” rating and a $78.00 price objective on the stock. The consensus estimate for Ag Growth International’s current full-year earnings is $5.90 per share. Desjardins also issued estimates for Ag Growth International’s FY2025 earnings at $6.57 EPS.

Other analysts have also issued reports about the stock. ATB Capital lowered their price objective on shares of Ag Growth International from C$85.00 to C$81.00 and set an “outperform” rating for the company in a report on Tuesday, April 30th. TD Securities increased their target price on Ag Growth International from C$75.00 to C$83.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. National Bankshares dropped their price target on Ag Growth International from C$82.00 to C$77.00 and set an “outperform” rating on the stock in a research report on Wednesday. Raymond James increased their price objective on Ag Growth International from C$64.00 to C$72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Finally, Royal Bank of Canada boosted their target price on shares of Ag Growth International from C$75.00 to C$80.00 and gave the company an “outperform” rating in a report on Friday, March 8th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ag Growth International currently has a consensus rating of “Buy” and an average price target of C$78.22.

Ag Growth International Trading Up 0.4 %

TSE:AFN opened at C$50.07 on Friday. The company has a 50-day moving average price of C$60.36 and a 200-day moving average price of C$55.28. The stock has a market cap of C$951.83 million, a price-to-earnings ratio of 14.56, a P/E/G ratio of 1.30 and a beta of 2.32. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 285.22. Ag Growth International has a 12 month low of C$47.07 and a 12 month high of C$64.51.

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

Ag Growth International Announces Dividend

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