Wall Street brokerages predict that Deere & Company (NYSE:DE) will report earnings of $2.83 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Deere & Company’s earnings, with estimates ranging from $2.78 to $2.98. Deere & Company posted earnings per share of $2.59 in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.3%. The company is expected to report its next quarterly earnings results on Friday, August 16th.
According to Zacks, analysts expect that Deere & Company will report full year earnings of $10.25 per share for the current fiscal year, with EPS estimates ranging from $10.00 to $10.40. For the next financial year, analysts forecast that the firm will report earnings of $11.86 per share, with EPS estimates ranging from $11.07 to $12.50. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Deere & Company.
Deere & Company (NYSE:DE) last announced its earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates of $3.57 by ($0.05). Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. The business had revenue of $10.27 billion during the quarter, compared to analysts’ expectations of $10.19 billion. During the same quarter in the previous year, the firm earned $3.14 EPS. Deere & Company’s quarterly revenue was up 5.4% on a year-over-year basis.
DE has been the topic of a number of research analyst reports. Stifel Nicolaus cut their target price on Deere & Company from $180.00 to $171.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Citigroup restated a “buy” rating and issued a $170.00 target price (down previously from $180.00) on shares of Deere & Company in a research note on Thursday, May 16th. UBS Group lowered their price target on shares of Deere & Company from $177.00 to $158.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Jefferies Financial Group raised shares of Deere & Company from a “hold” rating to a “buy” rating and lifted their price target for the stock from $150.00 to $190.00 in a report on Monday, June 24th. Finally, Berenberg Bank started coverage on shares of Deere & Company in a report on Thursday, May 9th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $167.94.
In other Deere & Company news, COO John C. May II sold 16,468 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the sale, the chief operating officer now owns 60,550 shares of the company’s stock, valued at approximately $9,882,365.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.71% of the company’s stock.
A number of hedge funds have recently modified their holdings of DE. Norges Bank bought a new stake in Deere & Company during the 4th quarter valued at $582,245,000. JPMorgan Chase & Co. raised its holdings in Deere & Company by 67.0% during the 1st quarter. JPMorgan Chase & Co. now owns 3,733,015 shares of the industrial products company’s stock valued at $596,683,000 after acquiring an additional 1,497,433 shares during the period. FMR LLC raised its holdings in Deere & Company by 13.6% during the 1st quarter. FMR LLC now owns 8,713,051 shares of the industrial products company’s stock valued at $1,392,694,000 after acquiring an additional 1,043,039 shares during the period. Janus Henderson Group PLC raised its holdings in Deere & Company by 47.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,749,227 shares of the industrial products company’s stock valued at $439,432,000 after acquiring an additional 886,561 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Deere & Company by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock valued at $544,229,000 after acquiring an additional 244,266 shares during the period. 68.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE DE traded down $1.88 during midday trading on Wednesday, reaching $161.47. The company’s stock had a trading volume of 71,193 shares, compared to its average volume of 2,070,574. Deere & Company has a 12-month low of $128.32 and a 12-month high of $169.99. The firm has a 50 day moving average price of $153.13. The firm has a market cap of $51.78 billion, a PE ratio of 17.20, a P/E/G ratio of 1.55 and a beta of 1.12. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.94 and a quick ratio of 1.66.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, June 28th will be issued a $0.76 dividend. The ex-dividend date is Thursday, June 27th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.88%. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.
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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