Zacks: Brokerages Expect Deere & Company (DE) to Announce $1.88 EPS
Wall Street brokerages expect Deere & Company (NYSE:DE) to report $1.88 earnings per share for the current quarter, Zacks reports. Five analysts have issued estimates for Deere &’s earnings, with estimates ranging from $1.68 to $2.05. Deere & reported earnings per share of $1.55 during the same quarter last year, which would indicate a positive year over year growth rate of 21.3%. The company is scheduled to report its next quarterly earnings report before the market opens on Friday, August 18th.
According to Zacks, analysts expect that Deere & will report full year earnings of $6.32 per share for the current financial year, with EPS estimates ranging from $5.95 to $6.70. For the next year, analysts anticipate that the business will report earnings of $6.84 per share, with EPS estimates ranging from $5.68 to $7.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Deere &.
Deere & (NYSE:DE) last released its quarterly earnings data on Friday, May 19th. The industrial products company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.79. Deere & had a return on equity of 24.85% and a net margin of 6.52%. The firm had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the company posted $1.56 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis.
Several research firms have commented on DE. Credit Suisse Group set a $132.00 target price on Deere & and gave the company a “buy” rating in a research note on Saturday, May 20th. BidaskClub cut Deere & from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Barclays PLC restated a “sell” rating and issued a $82.00 target price (up previously from $80.00) on shares of Deere & in a research note on Tuesday, April 18th. Stifel Nicolaus boosted their target price on Deere & from $126.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, May 22nd. Finally, J P Morgan Chase & Co upgraded Deere & from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $103.00 to $122.00 in a research note on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. Deere & has an average rating of “Hold” and an average price target of $122.60.
COPYRIGHT VIOLATION NOTICE: “Zacks: Brokerages Expect Deere & Company (DE) to Announce $1.88 EPS” was posted by American Banking News and is owned by of American Banking News. If you are reading this article on another website, it was illegally copied and republished in violation of international trademark and copyright laws. The original version of this article can be read at https://www.americanbankingnews.com/2017/08/08/zacks-brokerages-expect-deere-company-de-to-announce-1-88-eps.html.
In other Deere & news, insider Cory J. Reed sold 4,936 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $128.00, for a total value of $631,808.00. Following the transaction, the insider now owns 9,903 shares in the company, valued at $1,267,584. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Cory J. Reed sold 5,840 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $119.59, for a total value of $698,405.60. Following the completion of the transaction, the insider now owns 10,807 shares in the company, valued at approximately $1,292,409.13. The disclosure for this sale can be found here. In the last three months, insiders sold 117,973 shares of company stock valued at $14,754,717. Insiders own 0.75% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Private Trust Co. NA purchased a new position in shares of Deere & during the first quarter valued at about $209,000. TNB Financial purchased a new position in shares of Deere & during the first quarter valued at about $291,000. Capstone Asset Management Co. raised its position in shares of Deere & by 53.2% in the first quarter. Capstone Asset Management Co. now owns 38,143 shares of the industrial products company’s stock valued at $4,152,000 after buying an additional 13,250 shares during the last quarter. CrestPoint Capital Management LLC purchased a new position in shares of Deere & during the first quarter valued at about $359,000. Finally, Stillwater Investment Management LLC raised its position in shares of Deere & by 0.5% in the first quarter. Stillwater Investment Management LLC now owns 15,900 shares of the industrial products company’s stock valued at $1,731,000 after buying an additional 85 shares during the last quarter. Institutional investors and hedge funds own 67.35% of the company’s stock.
Deere & (NYSE DE) traded up 1.13% during trading on Tuesday, reaching $131.43. The company had a trading volume of 872,572 shares. Deere & has a 52-week low of $76.73 and a 52-week high of $131.88. The company has a market capitalization of $42.04 billion, a PE ratio of 23.66 and a beta of 0.67. The company has a 50 day moving average price of $125.86 and a 200 day moving average price of $115.48. Deere & also was the recipient of some unusual options trading on Monday. Stock traders bought 731 call options on the stock. This represents an increase of approximately 255% compared to the average volume of 206 call options.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th were issued a $0.60 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $2.40 dividend on an annualized basis and a yield of 1.85%. Deere &’s payout ratio is presently 43.24%.
Deere & Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.