Deere & Company (DE) Expected to Announce Quarterly Sales of $6.91 Billion
Equities research analysts expect Deere & Company (NYSE:DE) to post $6.91 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Deere &’s earnings, with the highest sales estimate coming in at $7.01 billion and the lowest estimate coming in at $6.70 billion. Deere & reported sales of $5.65 billion during the same quarter last year, which indicates a positive year over year growth rate of 22.3%. The company is scheduled to report its next earnings results on Wednesday, November 22nd.
On average, analysts expect that Deere & will report full-year sales of $6.91 billion for the current year, with estimates ranging from $25.49 billion to $25.80 billion. For the next financial year, analysts forecast that the business will report sales of $27.49 billion per share, with estimates ranging from $27.13 billion to $27.84 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Deere &.
Deere & (NYSE:DE) last announced its earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.04. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same period in the prior year, the company earned $1.55 EPS. The company’s quarterly revenue was up 16.6% compared to the same quarter last year.
A number of research firms have recently weighed in on DE. Citigroup Inc. upped their price objective on Deere & from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, June 9th. BidaskClub cut Deere & from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) started coverage on Deere & in a research note on Tuesday, August 8th. They set a “buy” rating on the stock. Credit Suisse Group set a $148.00 target price on Deere & and gave the company a “buy” rating in a research note on Friday, August 18th. Finally, Argus reissued a “buy” rating and issued a $140.00 price target on shares of Deere & in a report on Tuesday, August 22nd. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $127.58.
In other Deere & news, insider Pentz Markwart Von sold 46,457 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $116.74, for a total transaction of $5,423,390.18. Following the completion of the transaction, the insider now owns 47,165 shares in the company, valued at $5,506,042.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jean H. Gilles sold 8,015 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $129.99, for a total value of $1,041,869.85. Following the transaction, the insider now owns 70,635 shares of the company’s stock, valued at approximately $9,181,843.65. The disclosure for this sale can be found here. Insiders sold a total of 116,023 shares of company stock worth $14,185,962 over the last three months. 0.75% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Deere & by 2,432.6% during the 1st quarter. BlackRock Inc. now owns 16,715,452 shares of the industrial products company’s stock worth $1,819,643,000 after acquiring an additional 16,055,453 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Deere & by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 20,440,278 shares of the industrial products company’s stock valued at $2,225,128,000 after acquiring an additional 1,541,004 shares during the period. Janus Henderson Group PLC grew its position in Deere & by 1,010.7% in the 2nd quarter. Janus Henderson Group PLC now owns 1,133,585 shares of the industrial products company’s stock valued at $140,101,000 after acquiring an additional 1,031,528 shares during the last quarter. Principal Financial Group Inc. grew its position in Deere & by 242.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,450,533 shares of the industrial products company’s stock valued at $179,271,000 after acquiring an additional 1,027,175 shares during the last quarter. Finally, Capital International Investors grew its position in Deere & by 14.4% in the 2nd quarter. Capital International Investors now owns 6,506,943 shares of the industrial products company’s stock valued at $804,193,000 after acquiring an additional 820,991 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.
Shares of Deere & (NYSE DE) opened at 128.10 on Wednesday. Deere & has a 12-month low of $84.51 and a 12-month high of $132.50. The firm has a 50 day moving average price of $120.06 and a 200 day moving average price of $119.64. The stock has a market cap of $41.16 billion, a PE ratio of 21.28 and a beta of 0.69. Deere & also was the target of some unusual options trading on Monday. Investors bought 731 call options on the stock. This represents an increase of 255% compared to the average volume of 206 call options.
The company 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 dividend of $0.60 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.87%. Deere &’s dividend payout ratio is presently 40.20%.
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.