Zacks: Brokerages Expect Deere & Company (NYSE:DE) to Post $4.46 EPS

Wall Street analysts forecast that Deere & Company (NYSE:DE) will post $4.46 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Deere & Company’s earnings. The lowest EPS estimate is $4.03 and the highest is $5.25. Deere & Company reported earnings of $2.11 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 111.4%. The business is scheduled to report its next quarterly earnings report before the market opens on Friday, May 21st.

On average, analysts expect that Deere & Company will report full-year earnings of $16.01 per share for the current fiscal year, with EPS estimates ranging from $15.35 to $17.60. For the next fiscal year, analysts anticipate that the firm will post earnings of $18.40 per share, with EPS estimates ranging from $14.33 to $20.00. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Deere & Company.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 18th. The industrial products company reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $1.70. The firm had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Deere & Company had a return on equity of 22.17% and a net margin of 7.74%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.63 earnings per share.

A number of equities analysts recently issued reports on DE shares. Argus lifted their target price on Deere & Company from $280.00 to $380.00 and gave the company a “buy” rating in a research report on Monday, March 1st. Barclays boosted their price objective on Deere & Company from $330.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 22nd. Vertical Research assumed coverage on shares of Deere & Company in a research note on Wednesday, January 20th. They set a “buy” rating and a $345.00 target price on the stock. Oppenheimer lifted their price target on shares of Deere & Company from $331.00 to $380.00 and gave the company an “outperform” rating in a report on Monday, March 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Deere & Company from $360.00 to $402.00 and gave the stock a “hold” rating in a research note on Monday, April 19th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $327.95.

Shares of NYSE DE traded up $5.81 during trading on Tuesday, reaching $379.58. 1,659,713 shares of the company traded hands, compared to its average volume of 1,723,156. The company has a quick ratio of 2.03, a current ratio of 2.24 and a debt-to-equity ratio of 2.53. The firm has a 50 day simple moving average of $374.56 and a 200-day simple moving average of $305.50. Deere & Company has a 52-week low of $117.85 and a 52-week high of $392.42. The stock has a market capitalization of $118.98 billion, a PE ratio of 42.96, a P/E/G ratio of 1.43 and a beta of 0.96.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 10th. Investors of record on Wednesday, March 31st will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.95%. This is a positive change from Deere & Company’s previous quarterly dividend of $0.76. The ex-dividend date is Tuesday, March 30th. Deere & Company’s dividend payout ratio (DPR) is presently 41.43%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Diamant Asset Management Inc. boosted its stake in Deere & Company by 2.3% in the 1st quarter. Diamant Asset Management Inc. now owns 1,217 shares of the industrial products company’s stock worth $455,000 after purchasing an additional 27 shares in the last quarter. TCI Wealth Advisors Inc. grew its holdings in shares of Deere & Company by 2.2% during the first quarter. TCI Wealth Advisors Inc. now owns 1,327 shares of the industrial products company’s stock valued at $496,000 after buying an additional 29 shares during the last quarter. Foster Group Inc. increased its position in shares of Deere & Company by 2.4% in the 1st quarter. Foster Group Inc. now owns 1,296 shares of the industrial products company’s stock valued at $485,000 after acquiring an additional 30 shares during the period. ProVise Management Group LLC raised its stake in Deere & Company by 2.2% in the 1st quarter. ProVise Management Group LLC now owns 1,380 shares of the industrial products company’s stock worth $516,000 after acquiring an additional 30 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in Deere & Company by 3.4% during the 4th quarter. Flagship Harbor Advisors LLC now owns 962 shares of the industrial products company’s stock worth $259,000 after acquiring an additional 32 shares during the period. Institutional investors own 66.77% of the company’s stock.

About Deere & Company

Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

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