Deere & Company (DE) Expected to Post Quarterly Sales of $6.91 Billion
Analysts expect that Deere & Company (NYSE:DE) will report $6.91 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided 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 in the same quarter last year, which indicates a positive year over year growth rate of 22.3%. The company is scheduled to announce its next earnings report on Wednesday, November 22nd.
On average, analysts expect that Deere & will report full-year sales of $6.91 billion for the current financial year, with estimates ranging from $25.49 billion to $25.80 billion. For the next year, analysts expect that the firm will post sales of $27.49 billion per share, with estimates ranging from $27.13 billion to $27.84 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Deere &.
Deere & (NYSE:DE) last issued its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.04. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the prior year, the company earned $1.55 EPS. Deere &’s revenue was up 16.6% on a year-over-year basis.
DE has been the subject of a number of research reports. BidaskClub lowered Deere & from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) initiated coverage on Deere & in a research report on Tuesday, August 8th. They issued a “buy” rating for the company. Credit Suisse Group set a $148.00 price objective on Deere & and gave the stock a “buy” rating in a research report on Friday, August 18th. Argus reiterated a “buy” rating and issued a $140.00 price objective on shares of Deere & in a research report on Tuesday, August 22nd. Finally, Stifel Nicolaus set a $135.00 price objective on Deere & and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $127.97.
Shares of Deere & (NYSE DE) opened at 129.15 on Monday. The firm has a 50-day moving average of $123.72 and a 200-day moving average of $121.28. Deere & has a one year low of $85.27 and a one year high of $132.50. The firm has a market capitalization of $41.50 billion, a P/E ratio of 21.45 and a beta of 0.69.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, September 28th. Deere &’s dividend payout ratio (DPR) is presently 40.20%.
In related news, insider Jean H. Gilles sold 12,361 shares of Deere & stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $129.90, for a total value of $1,605,693.90. Following the sale, the insider now owns 74,981 shares of the company’s stock, valued at approximately $9,740,031.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John C. May II sold 22,095 shares of Deere & stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $127.04, for a total value of $2,806,948.80. Following the completion of the sale, the insider now directly owns 51,429 shares in the company, valued at approximately $6,533,540.16. The disclosure for this sale can be found here. In the last three months, insiders sold 116,023 shares of company stock worth $14,185,962. 0.85% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its position in Deere & by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the industrial products company’s stock valued at $2,262,000 after buying an additional 300 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Deere & by 3.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,139,980 shares of the industrial products company’s stock valued at $140,891,000 after buying an additional 40,269 shares during the last quarter. Dai Ichi Life Insurance Company Ltd raised its position in Deere & by 42.1% in the 1st quarter. Dai Ichi Life Insurance Company Ltd now owns 21,438 shares of the industrial products company’s stock valued at $2,334,000 after buying an additional 6,353 shares during the last quarter. Ngam Advisors L.P. raised its position in Deere & by 20.8% in the 1st quarter. Ngam Advisors L.P. now owns 427,136 shares of the industrial products company’s stock valued at $46,498,000 after buying an additional 73,484 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its position in Deere & by 22.3% in the 2nd quarter. Pictet Asset Management Ltd. now owns 808,264 shares of the industrial products company’s stock valued at $98,980,000 after buying an additional 147,626 shares during the last quarter. 66.17% of the stock is currently owned by institutional investors and hedge funds.
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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