Jefferies analyst Stephen Volkmann lowered his 2019 earnings per estimate for AGCO to $4.95 from $5.10 saying end market weakness continued in Brazil during the Q3 as resumption of the FINAME lending program appeared to take longer than expected. The company is also facing stronger currency headwinds from the weak euro and Brazilian real, Volkmann tells investors in a research note. The analyst, however, still sees upside due to replacement in North America and Brazil, coupled with AGCO's margin expansion efforts. He keeps a Buy rating on the shares with a $90 price target.

AGCO Corporation announced that its board of directors declared a special variable dividend in the amount of $2.50 per share and a regular quarterly dividend of 29c per outstanding share. The special variable dividend will be payable on June 20 to shareholders of record at the close of business on May 20. Payment of the 29c quarterly dividend will be made on June 14 to all stockholders of record as of the close of business on May 15.