Deere & Company (DE) Posts Quarterly Results
Deere & Company (NYSE:DE) issued its quarterly earnings data on Wednesday. The company reported $2.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.20 by $0.13, Analyst RN reports. The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.75 million.
A number of research firms have recently commented on DE. Analysts at Barclays cut their price target on shares of Deere & Company from $101.00 to $97.00 in a research note on Monday. They now have an “overweight” rating on the stock. On the ratings front, analysts at JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $88.00 to $83.00 in a research note on Wednesday, July 9th. Finally, analysts at Global Hunter Securities initiated coverage on shares of Deere & Company in a research note on Thursday, June 19th. They set a “neutral” rating and a $90.00 price target on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $88.37.
Shares of Deere & Company (NYSE:DE) opened at 86.48 on Wednesday. Deere & Company has a 1-year low of $80.76 and a 1-year high of $94.89. The stock’s 50-day moving average is $87.97 and its 200-day moving average is $89.31. The company has a market cap of $31.461 billion and a P/E ratio of 9.53. Deere & Company also was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 24,493,467 shares, a growth of 16.6% from the July 15th total of 21,003,363 shares. Currently, 6.7% of the shares of the company are sold short. Based on an average daily volume of 3,399,526 shares, the short-interest ratio is currently 7.2 days.
Deere & Company (NYSE:DE) along with its subsidiaries, operates in three segments: agriculture and turf, construction and forestry and financial services.
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