Zacks: Brokerages Anticipate Deere & Company (DE) to Post $3.57 Earnings Per Share

Analysts predict that Deere & Company (NYSE:DE) will post earnings of $3.57 per share for the current quarter, according to Zacks. Four analysts have made estimates for Deere & Company’s earnings. The highest EPS estimate is $3.71 and the lowest is $3.45. Deere & Company reported earnings per share of $3.14 during the same quarter last year, which suggests a positive year over year growth rate of 13.7%. The company is expected to issue its next quarterly earnings report on Friday, May 17th.

On average, analysts expect that Deere & Company will report full-year earnings of $11.23 per share for the current year, with EPS estimates ranging from $11.00 to $11.48. For the next financial year, analysts expect that the company will post earnings of $12.41 per share, with EPS estimates ranging from $11.07 to $13.00. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Deere & Company.

Deere & Company (NYSE:DE) last released its 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). Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period last year, the business earned $1.31 earnings per share. The business’s revenue was up 16.2% on a year-over-year basis.

A number of analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Tuesday, November 20th. Cfra set a $158.00 target price on shares of Deere & Company and gave the company a “hold” rating in a research note on Wednesday, November 21st. William Blair reissued a “hold” rating on shares of Deere & Company in a report on Friday, November 23rd. Robert W. Baird set a $165.00 target price on shares of Deere & Company and gave the stock a “buy” rating in a report on Friday, November 23rd. Finally, UBS Group set a $177.00 target price on shares of Deere & Company and gave the stock a “buy” rating in a report on Friday, November 23rd. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $176.73.

NYSE DE traded up $0.53 during trading on Friday, reaching $158.29. The company’s stock had a trading volume of 16,111 shares, compared to its average volume of 2,239,850. The company has a quick ratio of 1.68, a current ratio of 1.98 and a debt-to-equity ratio of 2.46. The stock has a market capitalization of $50.69 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.66 and a beta of 0.91. Deere & Company has a 1-year low of $128.32 and a 1-year high of $167.82.

The firm also recently declared 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. This represents a $3.04 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, March 28th. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.

In related news, insider John C. May II sold 11,661 shares of the company’s stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $160.21, for a total transaction of $1,868,208.81. Following the completion of the sale, the insider now owns 55,743 shares in the company, valued at $8,930,586.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Destination Wealth Management raised its holdings in shares of Deere & Company by 20,500.0% in the 4th quarter. Destination Wealth Management now owns 206 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 205 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Deere & Company by 14,550.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 5,179,386 shares during the last quarter. Legacy Financial Advisors Inc. grew its position in Deere & Company by 155.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 238 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 145 shares during the last quarter. Athena Capital Advisors LLC bought a new position in Deere & Company during the 4th quarter worth approximately $36,000. Finally, Lavaca Capital LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $41,000. Institutional investors own 66.80% of the company’s stock.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacturing of full line of agriculture and turf equipment and related service parts.

Featured Story: Municipal Bonds

Get a free copy of the Zacks research report on Deere & Company (DE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.



Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit