Deere & Company’s “Neutral” Rating Reaffirmed at Macquarie (DE)
Deere & Company (NYSE:DE)‘s stock had its “neutral” rating reiterated by investment analysts at Macquarie in a note issued to investors on Thursday. They currently have a $85.00 target price on the stock, down from their previous target price of $88.00. Macquarie’s price objective points to a potential upside of 0.60% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Global Hunter Securities reiterated a “neutral” rating on shares of Deere & Company in a research note on Thursday. They now have a $86.00 price target on the stock, down previously from $90.00. Separately, analysts at Robert W. Baird reiterated a “neutral” rating on shares of Deere & Company in a research note on Thursday. They now have a $85.00 price target on the stock, down previously from $87.00. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Deere & Company in a research note on Thursday. They now have a $98.00 price target on the stock, down previously from $104.00. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.82.
Shares of Deere & Company (NYSE:DE) traded up 0.14% on Thursday, hitting $84.6101. 3,870,983 shares of the company’s stock traded hands. Deere & Company has a 52-week low of $80.76 and a 52-week high of $94.89. The stock’s 50-day moving average is $87.80 and its 200-day moving average is $89.28. The company has a market cap of $30.780 billion and a P/E ratio of 9.24. Deere & Company also was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 24,493,467 shares, an increase of 16.6% from the July 15th total of 21,003,363 shares. Approximately 6.7% of the company’s shares are sold short. Based on an average daily trading volume, of 3,399,526 shares, the days-to-cover ratio is currently 7.2 days.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $2.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.20 by $0.13. The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.75 million. On average, analysts predict that Deere & Company will post $8.40 earnings per share for the current fiscal year.
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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