Zacks: Brokerages Anticipate Deere & Company (DE) to Post $1.41 Earnings Per Share
Analysts expect Deere & Company (NYSE:DE) to post $1.41 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Deere &’s earnings, with the lowest EPS estimate coming in at $1.32 and the highest estimate coming in at $1.56. Deere & reported earnings of $0.90 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 56.7%. The company is expected to issue its next earnings results on Wednesday, November 22nd.
According to Zacks, analysts expect that Deere & will report full-year earnings of $6.47 per share for the current fiscal year, with EPS estimates ranging from $6.25 to $6.63. For the next financial year, analysts expect that the business will post earnings of $6.91 per share, with EPS estimates ranging from $6.10 to $7.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Deere &.
Deere & (NYSE:DE) last announced its earnings results on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.04. The firm had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.92 billion. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 EPS.
A number of research analysts recently commented on the company. ValuEngine raised Deere & from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub cut Deere & from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Piper Jaffray Companies set a $119.00 target price on Deere & and gave the company a “hold” rating in a research note on Friday, August 25th. Stifel Nicolaus set a $135.00 target price on Deere & and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Finally, Argus reissued a “buy” rating and issued a $140.00 target price on shares of Deere & in a research note on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $127.58.
Shares of Deere & (NYSE:DE) remained flat at $117.37 on Thursday. The stock had a trading volume of 95,281 shares. Deere & has a 1-year low of $80.35 and a 1-year high of $132.50. The stock has a market capitalization of $37.71 billion, a price-to-earnings ratio of 19.49 and a beta of 0.70. The company’s 50 day moving average price is $122.65 and its 200 day moving average price is $118.24.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, September 28th. Deere &’s payout ratio is currently 40.20%.
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In related news, insider Pentz Markwart Von sold 46,457 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $116.74, for a total value of $5,423,390.18. Following the completion of the transaction, the insider now directly owns 47,165 shares of the company’s stock, valued at $5,506,042.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Max A. Guinn sold 5,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total transaction of $654,450.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,769 shares of company stock valued at $9,357,212. 0.85% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in DE. DUPONT CAPITAL MANAGEMENT Corp bought a new position in Deere & in the first quarter worth about $3,483,000. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Deere & by 12.0% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 22,590 shares of the industrial products company’s stock valued at $2,459,000 after purchasing an additional 2,424 shares in the last quarter. BB&T Corp increased its stake in shares of Deere & by 39.4% during the first quarter. BB&T Corp now owns 39,301 shares of the industrial products company’s stock valued at $4,278,000 after purchasing an additional 11,101 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Deere & by 455.7% during the first quarter. Canada Pension Plan Investment Board now owns 222,886 shares of the industrial products company’s stock valued at $24,263,000 after purchasing an additional 182,776 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its stake in shares of Deere & by 52.2% during the first quarter. Tocqueville Asset Management L.P. now owns 191,640 shares of the industrial products company’s stock valued at $20,862,000 after purchasing an additional 65,735 shares in the last quarter. 66.58% of the stock is owned by institutional investors.
About Deere &
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.
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