Q4 2020 EPS Estimates for Deere & Company Reduced by Analyst (NYSE:DE)

Deere & Company (NYSE:DE) – Jefferies Financial Group lowered their Q4 2020 earnings estimates for Deere & Company in a report issued on Friday, December 6th. Jefferies Financial Group analyst S. Volkmann now forecasts that the industrial products company will post earnings of $2.50 per share for the quarter, down from their previous estimate of $2.70. Jefferies Financial Group also issued estimates for Deere & Company’s FY2022 earnings at $13.00 EPS.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 27th. The industrial products company reported $2.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.01. The firm had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.41 billion. Deere & Company had a return on equity of 27.11% and a net margin of 8.29%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.30 earnings per share.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reiterated a “sell” rating and set a $140.00 target price on shares of Deere & Company in a research report on Monday, November 25th. Credit Suisse Group reaffirmed an “outperform” rating and set a $197.00 target price (up from $176.00) on shares of Deere & Company in a research report on Monday, August 19th. BMO Capital Markets lifted their price target on Deere & Company from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Argus reissued a “positive” rating and issued a $185.00 price target on shares of Deere & Company in a research report on Tuesday, December 3rd. Finally, Morgan Stanley raised their price objective on Deere & Company from $180.00 to $197.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $172.37.

Shares of DE stock opened at $167.90 on Monday. The firm has a 50 day moving average of $172.98 and a 200-day moving average of $162.24. The company has a market cap of $52.02 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 3.81 and a beta of 1.13. The company has a quick ratio of 1.80, a current ratio of 2.04 and a debt-to-equity ratio of 2.65. Deere & Company has a 52 week low of $132.68 and a 52 week high of $180.48.

Several large investors have recently bought and sold shares of the business. Benjamin Edwards Inc. lifted its holdings in Deere & Company by 69.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 151 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 62 shares in the last quarter. Atwater Malick LLC purchased a new position in Deere & Company during the 3rd quarter valued at about $27,000. SRS Capital Advisors Inc. purchased a new position in Deere & Company during the 2nd quarter valued at about $28,000. Resources Management Corp CT ADV bought a new stake in shares of Deere & Company during the third quarter valued at about $34,000. Finally, Heritage Wealth Advisors bought a new stake in shares of Deere & Company during the second quarter valued at about $47,000. Hedge funds and other institutional investors own 67.31% of the company’s stock.

In related news, insider Rajesh Kalathur sold 12,151 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 55,178 shares of the company’s stock, valued at approximately $9,066,848.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Samuel R. Allen sold 114,253 shares of Deere & Company stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $178.30, for a total transaction of $20,371,309.90. Following the completion of the transaction, the chairman now owns 423,497 shares of the company’s stock, valued at $75,509,515.10. The disclosure for this sale can be found here. In the last three months, insiders sold 139,041 shares of company stock valued at $24,642,622. 0.71% of the stock is currently owned by insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Monday, December 30th. Deere & Company’s dividend payout ratio (DPR) is currently 30.58%.

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.

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

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