Ag Growth International (TSE:AFN) Price Target Cut to C$78.00 by Analysts at Desjardins

Ag Growth International (TSE:AFN) had its price objective reduced by Desjardins from C$86.00 to C$78.00 in a report issued on Wednesday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock. Desjardins also issued estimates for Ag Growth International’s FY2024 earnings at $5.76 EPS and FY2025 earnings at $6.57 EPS.

A number of other equities analysts have also recently commented on AFN. TD Securities boosted their price target on shares of Ag Growth International from C$75.00 to C$83.00 and gave the stock a buy rating in a research note on Thursday, March 7th. Raymond James upped their target price on shares of Ag Growth International from C$64.00 to C$72.00 and gave the stock an outperform rating in a research report on Thursday, March 7th. Scotiabank lowered their price target on Ag Growth International from C$88.00 to C$75.00 and set an outperform rating on the stock in a research report on Wednesday. CIBC upped their price objective on Ag Growth International from C$78.00 to C$82.00 and gave the stock an outperform rating in a report on Thursday, March 7th. Finally, ATB Capital reduced their price objective on Ag Growth International from C$85.00 to C$81.00 and set an outperform rating on the stock in a research report on Tuesday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of C$78.22.

Ag Growth International Stock Performance

TSE AFN opened at C$50.07 on Wednesday. Ag Growth International has a 52-week low of C$47.07 and a 52-week high of C$64.51. The company has a debt-to-equity ratio of 285.22, a quick ratio of 0.84 and a current ratio of 1.21. The company has a 50-day simple moving average of C$60.49 and a 200 day simple moving average of C$55.28. The company has a market capitalization of C$951.83 million, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.30 and a beta of 2.32.

Ag Growth International (TSE:AFN) last released its quarterly earnings data on Tuesday, March 5th. The company reported C$1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.08 by C$0.62. The company had revenue of C$379.32 million for the quarter, compared to analyst estimates of C$414.68 million. Ag Growth International had a return on equity of 23.61% and a net margin of 4.51%. On average, research analysts predict that Ag Growth International will post 5.9042146 EPS for the current year.

Ag Growth International Dividend Announcement

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