National Bank Financial Weighs in on TSE:AFN Q3 Earnings

Ag Growth International Inc. (TSE:AFN) – Equities researchers at National Bank Financial dropped their Q3 2024 EPS estimates for Ag Growth International in a note issued to investors on Monday, October 21st. National Bank Financial analyst M. Sytchev now expects that the company will post earnings per share of $1.43 for the quarter, down from their previous forecast of $1.55. The consensus estimate for Ag Growth International’s current full-year earnings is $6.58 per share. National Bank Financial also issued estimates for Ag Growth International’s FY2024 earnings at $4.69 EPS and FY2025 earnings at $4.91 EPS.

Ag Growth International (TSE:AFN) last announced its quarterly earnings data on Wednesday, August 7th. The company reported C$1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.67 by C($0.25). The firm had revenue of C$351.78 million during the quarter, compared to analysts’ expectations of C$397.51 million. Ag Growth International had a net margin of 2.13% and a return on equity of 10.35%.

Several other analysts have also recently weighed in on the stock. TD Securities reduced their target price on shares of Ag Growth International from C$79.00 to C$77.00 and set a “buy” rating on the stock in a report on Monday, August 12th. CIBC dropped their target price on shares of Ag Growth International from C$78.00 to C$75.00 and set an “outperform” rating for the company in a report on Wednesday, October 16th. Finally, Raymond James downgraded shares of Ag Growth International from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$72.00 to C$62.00 in a research note on Friday, October 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Ag Growth International has an average rating of “Moderate Buy” and an average target price of C$75.67.

Ag Growth International Stock Up 0.8 %

TSE:AFN opened at C$49.10 on Wednesday. The stock has a market capitalization of C$936.34 million, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 1.30 and a beta of 2.29. Ag Growth International has a 52 week low of C$45.96 and a 52 week high of C$64.51. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 298.35. The stock’s fifty day moving average is C$53.76 and its two-hundred day moving average is C$53.46.

Ag Growth International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. Ag Growth International’s payout ratio is presently 39.47%.

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.