Zacks: Analysts Anticipate Deere & Company (NYSE:DE) Will Announce Earnings of $1.28 Per Share

Analysts expect Deere & Company (NYSE:DE) to report earnings per share of $1.28 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Deere & Company’s earnings, with the highest EPS estimate coming in at $1.51 and the lowest estimate coming in at $1.07. Deere & Company reported earnings of $1.54 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 16.9%. The firm is scheduled to issue its next earnings results before the market opens on Friday, February 21st.

On average, analysts expect that Deere & Company will report full-year earnings of $9.44 per share for the current fiscal year, with EPS estimates ranging from $8.87 to $10.00. For the next fiscal year, analysts forecast that the company will post earnings of $10.69 per share, with EPS estimates ranging from $9.75 to $11.65. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Deere & Company.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 27th. The industrial products company reported $2.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.01. The company 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 firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.30 earnings per share.

Several equities analysts have recently weighed in on the company. Wells Fargo & Co lifted their price target on Deere & Company from $177.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. restated a “sell” rating and set a $140.00 target price on shares of Deere & Company in a research report on Monday, November 25th. Deutsche Bank restated a “hold” rating and set a $169.00 target price (up from $155.00) on shares of Deere & Company in a research report on Wednesday, November 20th. 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. Finally, UBS Group reduced their target price on Deere & Company from $180.00 to $169.00 and set a “neutral” rating for the company in a research report on Friday, November 29th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. Deere & Company currently has an average rating of “Hold” and an average price target of $172.28.

Shares of NYSE DE traded up $0.81 during mid-day trading on Friday, hitting $165.74. The company had a trading volume of 763,373 shares, compared to its average volume of 1,381,667. The company has a market capitalization of $52.35 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 3.93 and a beta of 1.14. Deere & Company has a 1 year low of $132.68 and a 1 year high of $180.48. The company has a current ratio of 2.04, a quick ratio of 1.80 and a debt-to-equity ratio of 2.65. The stock’s 50-day moving average price is $170.15 and its 200-day moving average price is $167.13.

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Monday, December 30th. Deere & Company’s dividend payout ratio (DPR) is presently 30.58%.

In other news, insider Pentz Markwart Von sold 2,350 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $175.10, for a total value of $411,485.00. Following the completion of the sale, the insider now owns 62,762 shares of the company’s stock, valued at approximately $10,989,626.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Rajesh Kalathur sold 12,151 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $164.32, for a total value of $1,996,652.32. Following the completion of the sale, the insider now directly owns 55,178 shares of the company’s stock, valued at approximately $9,066,848.96. The disclosure for this sale can be found here. In the last three months, insiders sold 27,688 shares of company stock valued at $4,700,421. 0.70% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DE. Wealthfront Advisers LLC raised its position in Deere & Company by 15.6% during the 3rd quarter. Wealthfront Advisers LLC now owns 7,338 shares of the industrial products company’s stock valued at $1,238,000 after purchasing an additional 991 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Deere & Company by 12.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,790 shares of the industrial products company’s stock valued at $3,169,000 after purchasing an additional 2,072 shares during the last quarter. Advisor Partners LLC raised its position in Deere & Company by 19.2% during the 3rd quarter. Advisor Partners LLC now owns 10,448 shares of the industrial products company’s stock valued at $1,762,000 after purchasing an additional 1,685 shares during the last quarter. Allied Investment Advisors LLC raised its position in Deere & Company by 3.7% during the 3rd quarter. Allied Investment Advisors LLC now owns 26,488 shares of the industrial products company’s stock valued at $4,468,000 after purchasing an additional 933 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Deere & Company by 40.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 13,845 shares of the industrial products company’s stock valued at $2,335,000 after purchasing an additional 3,961 shares during the last quarter. 68.24% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Accumulation/Distribution

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