Home Earnings Preview Street Expectation From Alamo Group, Inc. ($ALG) 3Q20 Earnings?

Street Expectation From Alamo Group, Inc. ($ALG) 3Q20 Earnings?

Alamo Group, Inc. (NYSE:ALG) is reporting third quarter financial results on Wednesday 28th October 2020, after market close.

According to analysts surveyed by Thomson Reuters, ALG is expected to report 3Q20 income of $ 1.37 per share from revenue of $ 279.48 million.

For the full year, analysts anticipate top line of $ 1149.40 million, while looking forward to income of $ 4.85 per share bottom line.

Previous Quarter Performance

Alamo Group, Inc. unfold income for the second quarter of $ 1.06 per share, from the revenue of $ 268.63 million. The quarterly earnings decreased 39.43 percent while revenues declined 5.81 percent compared with the same quarter last year.
Wall street analysts are predicting, ALG to report 2Q20 income of $ 0.81 per share from revenue of $ 273.48 million. The bottom line results beat street analysts by $ 0.25 or 30.86 percent, at the same time, top line results fell short of analysts by $ 4.85 million or 1.77 percent.

Stock Performance

Shares of Alamo Group, Inc. traded low $ -1.42 or -1.16 percent on Tuesday, reaching $ 120.80 with volume of 36.20 thousand shares. Alamo Group, Inc. has traded high as $ 122.54 and has cracked $ 120.54 on the downward trend

According to the previous trading day, closing price of $ 120.80, representing a 72.17 % increase from the 52 week low of $ 70.99 and a 8.08 % decrease over the 52 week high of $ 132.96.

The company has a market capital of $ 1.43 billion and is part of the Industrial Goods sector and Farm & Construction Machinery industry.

Recent Analyst recommendations

  • On 9th October 2020, maintained by Sidoti at Buy rating, with $ 145.00 target price.

Alamo Group Inc. designs, manufactures, distributes, and services agricultural and infrastructure maintenance equipment for governmental and industrial use worldwide. The company offers hydraulically-powered and tractor-mounted mowers, including boom-mounted mowers; other cutters and replacement parts for heavy-duty and intensive uses; and heavy duty, tractor- and truck-mounted mowing, and vegetation maintenance equipment and replacement parts.