Wall Street brokerages expect Deere & Company (NYSE:DE) to post $3.57 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have issued estimates for Deere & Company’s earnings, with estimates ranging from $3.43 to $3.71. Deere & Company reported earnings per share of $3.14 in the same quarter last year, which suggests a positive year-over-year growth rate of 13.7%. The company is scheduled to issue its next earnings report before the market opens on Friday, May 17th.
According to Zacks, analysts expect that Deere & Company will report full year earnings of $11.17 per share for the current financial year, with EPS estimates ranging from $10.70 to $11.48. For the next year, analysts anticipate that the firm will post earnings of $12.40 per share, with EPS estimates ranging from $11.07 to $13.00. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Deere & Company.
Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, February 15th. The industrial products company reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.22). The business had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.83 billion. Deere & Company had a net margin of 8.85% and a return on equity of 28.83%. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 earnings per share.
DE has been the topic of several recent analyst reports. Credit Suisse Group dropped their price target on Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 19th. Bank of America lowered Deere & Company from a “buy” rating to a “neutral” rating and dropped their price target for the company from $173.00 to $170.00 in a research report on Wednesday, February 13th. DZ Bank lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Argus boosted their target price on Deere & Company to $175.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. Finally, OTR Global upgraded Deere & Company to a “positive” rating in a research note on Friday, January 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $179.43.
NYSE:DE traded down $2.45 during trading hours on Wednesday, hitting $165.31. 1,390,469 shares of the company’s stock traded hands, compared to its average volume of 1,991,343. The firm has a market capitalization of $53.43 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.77 and a beta of 0.90. Deere & Company has a twelve month low of $128.32 and a twelve month high of $169.99. The company has a current ratio of 1.98, a quick ratio of 1.68 and a debt-to-equity ratio of 2.46.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, March 29th will be paid a $0.76 dividend. The ex-dividend date is Thursday, March 28th. This represents a $3.04 dividend on an annualized basis and a yield of 1.84%. Deere & Company’s dividend payout ratio (DPR) is currently 32.37%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Moloney Securities Asset Management LLC boosted its stake in shares of Deere & Company by 9.1% during the 4th quarter. Moloney Securities Asset Management LLC now owns 2,072 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 172 shares in the last quarter. Royal London Asset Management Ltd. bought a new stake in shares of Deere & Company during the 4th quarter worth about $42,481,000. WP Advisors LLC bought a new stake in shares of Deere & Company during the 1st quarter worth about $70,000. Private Trust Co. NA boosted its stake in shares of Deere & Company by 6.5% during the 1st quarter. Private Trust Co. NA now owns 2,580 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 158 shares in the last quarter. Finally, Osborne Partners Capital Management LLC bought a new stake in shares of Deere & Company during the 1st quarter worth about $559,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.
About Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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