Ag Growth International Inc. (TSE:AFN) Forecasted to Post FY2024 Earnings of $6.13 Per Share

Ag Growth International Inc. (TSE:AFN) – Equities research analysts at Cormark lowered their FY2024 EPS estimates for Ag Growth International in a research report issued to clients and investors on Wednesday, May 1st. Cormark analyst K. Mcphee now expects that the company will earn $6.13 per share for the year, down from their previous estimate of $6.45. The consensus estimate for Ag Growth International’s current full-year earnings is $5.90 per share. Cormark also issued estimates for Ag Growth International’s FY2025 earnings at $7.23 EPS and FY2026 earnings at $8.05 EPS.

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

Other equities analysts also recently issued research reports about the stock. Scotiabank cut their price objective on shares of Ag Growth International from C$88.00 to C$75.00 and set an “outperform” rating for the company in a research report on Wednesday. ATB Capital dropped their price target on shares of Ag Growth International from C$85.00 to C$81.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 30th. Royal Bank of Canada raised their price objective on shares of Ag Growth International from C$75.00 to C$80.00 and gave the company an “outperform” rating in a research report on Friday, March 8th. National Bankshares dropped their target price 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. Finally, CIBC raised their price target 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$78.22.

Ag Growth International Price Performance

Ag Growth International stock opened at C$50.07 on Friday. The business has a 50 day simple moving average of C$60.36 and a 200-day simple moving average of C$55.28. Ag Growth International has a 12 month low of C$47.07 and a 12 month 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 stock has a market capitalization of C$951.83 million, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.30 and a beta of 2.32.

Ag Growth International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.20%. The ex-dividend date was Wednesday, March 27th. 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.