FY2024 Earnings Forecast for TSE:AFN Issued By Desjardins

Ag Growth International Inc. (TSE:AFN) – Desjardins lowered their FY2024 earnings per share estimates for Ag Growth International in a research note issued on Wednesday, November 6th. Desjardins analyst G. Ho now expects that the company will post earnings per share of $5.23 for the year, down from their prior estimate of $5.51. The consensus estimate for Ag Growth International’s current full-year earnings is $6.58 per share. Desjardins also issued estimates for Ag Growth International’s FY2025 earnings at $5.72 EPS and FY2026 earnings at $6.48 EPS.

Ag Growth International (TSE:AFN) last posted its earnings results on Wednesday, August 7th. The company reported C$1.42 EPS for the quarter, missing the consensus estimate of C$1.67 by C($0.25). The company had revenue of C$351.78 million for the quarter, compared to the consensus estimate of C$397.51 million. Ag Growth International had a net margin of 2.13% and a return on equity of 10.35%.

AFN has been the subject of several other research reports. Royal Bank of Canada lowered their price target on shares of Ag Growth International from C$80.00 to C$75.00 in a research report on Thursday. CIBC cut their price target on Ag Growth International from C$75.00 to C$70.00 in a report on Thursday. Raymond James lowered Ag Growth International from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from C$72.00 to C$62.00 in a report on Friday, October 18th. Finally, TD Securities cut their target price on Ag Growth International from C$79.00 to C$77.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$74.56.

Ag Growth International Price Performance

Shares of AFN opened at C$52.65 on Friday. Ag Growth International has a 12 month low of C$45.96 and a 12 month high of C$64.51. The company has a debt-to-equity ratio of 298.35, a current ratio of 1.49 and a quick ratio of 0.84. The stock has a fifty day moving average price of C$52.40 and a 200 day moving average price of C$52.58. The company has a market cap of C$1.00 billion, a P/E ratio of 34.64, a PEG ratio of 1.30 and a beta of 2.29.

Ag Growth International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, September 27th. Ag Growth International’s dividend 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.