Analysts forecast that Deere & Company (NYSE:DE) will announce earnings per share (EPS) of $1.30 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Deere & Company’s earnings, with estimates ranging from $1.07 to $1.51. Deere & Company posted earnings of $1.54 per share during the same quarter last year, which suggests a negative year over year growth rate of 15.6%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Friday, February 21st.
According to Zacks, analysts expect that Deere & Company will report full year earnings of $9.44 per share for the current financial year, with EPS estimates ranging from $8.94 to $10.00. For the next financial year, analysts forecast that the firm will post earnings of $10.69 per share, with EPS estimates ranging from $9.75 to $11.65. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Deere & Company.
Deere & Company (NYSE:DE) last announced its quarterly earnings data on Wednesday, November 27th. The industrial products company reported $2.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.01. The firm had revenue of $8.70 billion during the quarter, compared to analysts’ expectations of $8.41 billion. Deere & Company had a return on equity of 27.11% and a net margin of 8.29%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.30 EPS.
Several brokerages have weighed in on DE. DZ Bank cut Deere & Company from a “hold” rating to a “sell” rating and set a $148.00 price objective for the company. in a report on Friday, November 29th. BMO Capital Markets boosted their target price on Deere & Company from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Morgan Stanley boosted their target price on Deere & Company from $180.00 to $197.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Wells Fargo & Co boosted their target price on Deere & Company from $177.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Finally, Barclays set a $180.00 target price on Deere & Company and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Deere & Company has a consensus rating of “Hold” and an average target price of $172.79.
In related news, CEO John C. May II sold 8,112 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $174.11, for a total value of $1,412,380.32. Following the completion of the transaction, the chief executive officer now directly owns 49,157 shares in the company, valued at approximately $8,558,725.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James M. Field sold 12,637 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $180.00, for a total value of $2,274,660.00. Following the completion of the transaction, the insider now owns 113,858 shares of the company’s stock, valued at $20,494,440. The disclosure for this sale can be found here. Insiders sold a total of 154,578 shares of company stock valued at $27,346,391 over the last quarter. 0.70% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Benjamin Edwards Inc. boosted its position in Deere & Company by 69.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 151 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 62 shares during the last quarter. Atwater Malick LLC acquired a new position in Deere & Company during the 3rd quarter worth approximately $27,000. Allred Capital Management LLC acquired a new position in Deere & Company during the 4th quarter worth approximately $30,000. Resources Management Corp CT ADV acquired a new position in Deere & Company during the 3rd quarter worth approximately $34,000. Finally, Barnett & Company Inc. boosted its position in Deere & Company by 2,785.7% during the 4th quarter. Barnett & Company Inc. now owns 202 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 195 shares during the last quarter. Institutional investors and hedge funds own 67.18% of the company’s stock.
NYSE:DE traded up $0.90 on Thursday, hitting $172.06. 1,245,087 shares of the stock were exchanged, compared to its average volume of 1,446,115. The stock has a market capitalization of $54.32 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 4.08 and a beta of 1.13. Deere & Company has a 52 week low of $132.68 and a 52 week high of $180.48. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.80 and a current ratio of 2.04. The company’s 50-day moving average price is $173.20 and its 200 day moving average price is $167.06.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.76 per share. The ex-dividend date is Monday, December 30th. This represents a $3.04 annualized dividend and a dividend yield of 1.77%. Deere & Company’s payout ratio is currently 30.58%.
Deere & Company Company Profile
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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