Ag Growth International (TSE:AFN) announced its quarterly earnings results on Wednesday. The company reported C$0.74 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.11 by C($0.37), Morningstar.com reports. The firm had revenue of C$242.17 million during the quarter, compared to analyst estimates of C$245.20 million.
AFN stock traded down C$0.28 on Thursday, reaching C$59.89. The company’s stock had a trading volume of 109,181 shares, compared to its average volume of 39,116. Ag Growth International has a 52 week low of C$47.08 and a 52 week high of C$64.72.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, December 14th will be issued a $0.20 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Thursday, November 29th.
In related news, Director Gary Keith Anderson sold 10,600 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of C$63.72, for a total value of C$675,432.00.
AFN has been the subject of a number of recent analyst reports. National Bank Financial increased their price objective on Ag Growth International from C$67.00 to C$71.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. Raymond James increased their price objective on Ag Growth International from C$65.00 to C$70.00 and gave the stock an “outperform” rating in a report on Thursday. TD Securities decreased their price objective on Ag Growth International from C$80.00 to C$78.00 and set an “action list buy” rating for the company in a report on Friday, October 26th. Cormark reissued a “buy” rating and issued a C$75.00 price objective on shares of Ag Growth International in a report on Monday, August 27th. Finally, Royal Bank of Canada increased their price objective on Ag Growth International from C$65.00 to C$70.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Ag Growth International currently has a consensus rating of “Buy” and an average price target of C$70.00.
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Ag Growth International Company Profile
Ag Growth International Inc, together with its subsidiaries, manufactures and distributes grain handling, storage, and conditioning equipment in Canada, the United States, and internationally. The company offers portable handling equipment, such as portable augers, portable belt conveyors, grainvacs, and storm seed treaters; and permanent handling equipment, including TA tapered auger vertical blend systems, high-tonnage conveying systems, distributors, bulk weigh hoppers, enclosed belt conveyors, bucket elevators, rail and truck probes, VIS micro dosing systems, chain conveyors, truss and towers, screw feeders and conveyors, and spout and connections.
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