Brokerages Expect Deere & Company (NYSE:DE) Will Announce Earnings of $4.02 Per Share

Wall Street analysts expect Deere & Company (NYSE:DE) to announce earnings per share (EPS) of $4.02 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Deere & Company’s earnings. The lowest EPS estimate is $3.69 and the highest is $4.44. Deere & Company posted earnings of $2.39 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 68.2%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 24th.

According to Zacks, analysts expect that Deere & Company will report full-year earnings of $18.90 per share for the current financial year, with EPS estimates ranging from $18.56 to $19.31. For the next financial year, analysts anticipate that the firm will report earnings of $22.19 per share, with EPS estimates ranging from $18.89 to $23.70. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Deere & Company.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 19th. The industrial products company reported $5.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.58 by $0.74. Deere & Company had a return on equity of 37.60% and a net margin of 12.82%. The company had revenue of $10.41 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the company posted $2.57 EPS. Deere & Company’s quarterly revenue was up 32.5% on a year-over-year basis.

A number of equities analysts have issued reports on the company. Morgan Stanley cut their target price on Deere & Company from $450.00 to $442.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 13th. BMO Capital Markets upped their price target on Deere & Company from $400.00 to $425.00 and gave the company a “market perform” rating in a research report on Tuesday, May 25th. Stifel Nicolaus upped their price target on Deere & Company from $405.00 to $430.00 and gave the company a “buy” rating in a research report on Monday, May 24th. Credit Suisse Group upped their price target on Deere & Company from $439.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $404.00 to $383.00 and set a “hold” rating on the stock in a research report on Monday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Deere & Company has a consensus rating of “Buy” and an average target price of $372.30.

In other news, insider Cory J. Reed sold 6,188 shares of the stock in a transaction on Wednesday, August 11th. The stock was sold at an average price of $385.00, for a total value of $2,382,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Several large investors have recently added to or reduced their stakes in DE. McIlrath & Eck LLC boosted its stake in Deere & Company by 170.4% during the second quarter. McIlrath & Eck LLC now owns 73 shares of the industrial products company’s stock valued at $26,000 after buying an additional 46 shares in the last quarter. Delos Wealth Advisors LLC bought a new position in Deere & Company during the second quarter valued at about $26,000. Lloyd Advisory Services LLC. bought a new position in Deere & Company during the first quarter valued at about $28,000. Credit Agricole S A bought a new position in Deere & Company during the second quarter valued at about $28,000. Finally, Sterling Investment Advisors Ltd. boosted its stake in Deere & Company by 125.0% during the first quarter. Sterling Investment Advisors Ltd. now owns 81 shares of the industrial products company’s stock valued at $30,000 after buying an additional 45 shares in the last quarter. 67.02% of the stock is owned by institutional investors.

Shares of DE traded down $4.44 during trading on Thursday, reaching $355.33. The company’s stock had a trading volume of 1,680,994 shares, compared to its average volume of 1,723,958. The company has a fifty day moving average of $364.79 and a two-hundred day moving average of $364.16. Deere & Company has a twelve month low of $210.18 and a twelve month high of $400.34. The company has a market cap of $110.17 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 0.91 and a beta of 1.06. The company has a quick ratio of 1.93, a current ratio of 2.17 and a debt-to-equity ratio of 2.05.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 8th. Stockholders of record on Thursday, September 30th will be paid a $1.05 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $4.20 annualized dividend and a dividend yield of 1.18%. Deere & Company’s dividend payout ratio is presently 41.43%.

About Deere & Company

Deere & Co engages in the manufacturing 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.

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

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