Brokers Issue Forecasts for Deere & Company’s FY2018 Earnings (DE)

Deere & Company (NYSE:DE) – Investment analysts at Jefferies Group boosted their FY2018 earnings per share (EPS) estimates for Deere & Company in a research note issued on Thursday. Jefferies Group analyst S. Volkmann now expects that the industrial products company will earn $8.30 per share for the year, up from their previous forecast of $8.00. Jefferies Group currently has a “Hold” rating and a $150.00 target price on the stock. Jefferies Group also issued estimates for Deere & Company’s FY2019 earnings at $10.10 EPS.

A number of other research analysts also recently commented on DE. Deutsche Bank restated a “hold” rating and set a $129.00 price objective (down from $135.00) on shares of Deere & Company in a research note on Monday, October 9th. Robert W. Baird restated a “hold” rating and set a $140.00 price objective on shares of Deere & Company in a research note on Thursday, October 12th. BMO Capital Markets restated a “buy” rating and set a $150.00 price objective on shares of Deere & Company in a research note on Thursday, November 2nd. Zacks Investment Research upgraded Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Thursday, November 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $155.00 price objective (up from $134.00) on shares of Deere & Company in a research note on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $151.87.

Shares of Deere & Company (NYSE:DE) opened at $170.32 on Friday. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.95 and a current ratio of 2.12. The stock has a market capitalization of $54,274.86, a P/E ratio of 25.65, a P/E/G ratio of 2.51 and a beta of 0.77. Deere & Company has a 52-week low of $105.04 and a 52-week high of $170.73.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.10. The business had revenue of $7.09 billion for the quarter, compared to analyst estimates of $6.91 billion. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, December 29th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.40 annualized dividend and a dividend yield of 1.41%. Deere & Company’s payout ratio is 36.14%.

In other news, insider Cory J. Reed sold 6,416 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $151.54, for a total value of $972,280.64. Following the completion of the transaction, the insider now owns 11,383 shares of the company’s stock, valued at $1,724,979.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Max A. Guinn sold 11,235 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $168.68, for a total value of $1,895,119.80. Following the completion of the transaction, the insider now directly owns 39,406 shares of the company’s stock, valued at approximately $6,647,004.08. The disclosure for this sale can be found here. In the last three months, insiders sold 246,097 shares of company stock valued at $35,868,394. Company insiders own 0.85% of the company’s stock.

Several large investors have recently added to or reduced their stakes in DE. Marco Investment Management LLC lifted its holdings in shares of Deere & Company by 0.3% in the second quarter. Marco Investment Management LLC now owns 1,874 shares of the industrial products company’s stock valued at $232,000 after buying an additional 6 shares during the period. Northwest Quadrant Wealth Management LLC lifted its holdings in shares of Deere & Company by 0.4% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 3,165 shares of the industrial products company’s stock valued at $418,000 after buying an additional 13 shares during the period. YorkBridge Wealth Partners LLC lifted its holdings in shares of Deere & Company by 1.1% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock valued at $154,000 after buying an additional 13 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of Deere & Company by 3.6% in the second quarter. Manchester Capital Management LLC now owns 1,708 shares of the industrial products company’s stock valued at $211,000 after buying an additional 60 shares during the period. Finally, WMS Partners LLC lifted its holdings in shares of Deere & Company by 2.7% in the second quarter. WMS Partners LLC now owns 2,468 shares of the industrial products company’s stock valued at $305,000 after buying an additional 65 shares during the period. 67.37% of the stock is owned by institutional investors.

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Deere & Company Company Profile

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

Earnings History and Estimates for Deere & Company (NYSE:DE)

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