Agco (AGCO) Moves 13.3% Higher: Will This Strength Last?

Agco (AGCO) shares rallied 13.3% in the last trading session to close at $85.81. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 22.6% loss over the past four weeks.AGCO’s shares got a boost yesterday after U.S President Trump announced a 90-day pause on certain tariffs for most countries (except China). AGCO has manufacturing facilities in various locations including Germany, Italy, Finland, Brazil, Argentina and China.This farm equipment maker is expected to post quarterly earnings of $0.11 per share in its upcoming report, which represents a year-over-year change of -95.3%. Revenues are expected to be $1.99 billion, down 31.9% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Agco, the consensus EPS estimate for the quarter has been revised 3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on AGCO going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Agco is a member of the Zacks Manufacturing - Farm Equipment industry. One other stock in the same industry, CNH Industrial (CNH), finished the last trading session 12.5% higher at $11.61. CNH has returned -21.3% over the past month.For CNH, the consensus EPS estimate for the upcoming report has changed +0.8% over the past month to $0.13. This represents a change of -60.6% from what the company reported a year ago. CNH currently has a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AGCO Corporation (AGCO): Free Stock Analysis Report CNH Industrial N.V. (CNH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks