$6.40 Billion in Sales Expected for Deere & Company (DE) This Quarter

Wall Street brokerages expect Deere & Company (NYSE:DE) to report $6.40 billion in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Deere & Company’s earnings. The lowest sales estimate is $6.05 billion and the highest is $6.63 billion. Deere & Company posted sales of $4.70 billion in the same quarter last year, which suggests a positive year over year growth rate of 36.2%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Friday, February 16th.

On average, analysts expect that Deere & Company will report full year sales of $6.40 billion for the current financial year, with estimates ranging from $31.58 billion to $32.30 billion. For the next year, analysts forecast that the firm will post sales of $33.96 billion per share, with estimates ranging from $33.10 billion to $35.25 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Deere & Company.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $1.57 EPS for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.10. The business had revenue of $7.09 billion for the quarter, compared to analyst estimates of $6.91 billion. Deere & Company had a return on equity of 26.31% and a net margin of 7.22%. Deere & Company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the company posted $0.90 earnings per share.

A number of analysts have issued reports on DE shares. Wells Fargo & Co reissued a “buy” rating and issued a $170.00 target price on shares of Deere & Company in a research report on Thursday, November 23rd. Deutsche Bank raised Deere & Company from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $167.00 in a research report on Thursday, November 23rd. Zacks Investment Research raised Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Thursday, November 2nd. BMO Capital Markets reissued a “buy” rating and issued a $150.00 target price on shares of Deere & Company in a research report on Thursday, November 2nd. Finally, Stifel Nicolaus raised their target price on Deere & Company to $161.00 and gave the stock a “buy” rating in a research report on Monday, November 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Deere & Company currently has an average rating of “Buy” and an average price target of $155.21.

In other news, VP Mary K.W. Jones sold 34,136 shares of Deere & Company stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $124.72, for a total value of $4,257,441.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rajesh Kalathur sold 4,519 shares of Deere & Company stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $148.92, for a total value of $672,969.48. Following the completion of the transaction, the chief financial officer now owns 36,288 shares of the company’s stock, valued at $5,404,008.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 187,603 shares of company stock valued at $28,058,143. 0.74% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bartlett & Co. LLC grew its position in Deere & Company by 552.8% during the third quarter. Bartlett & Co. LLC now owns 105,048 shares of the industrial products company’s stock worth $13,193,000 after buying an additional 88,955 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new position in Deere & Company during the third quarter worth about $302,000. California Public Employees Retirement System grew its position in Deere & Company by 8.9% during the third quarter. California Public Employees Retirement System now owns 796,383 shares of the industrial products company’s stock worth $100,018,000 after buying an additional 65,031 shares in the last quarter. IFP Advisors Inc grew its position in Deere & Company by 7.7% during the third quarter. IFP Advisors Inc now owns 16,722 shares of the industrial products company’s stock worth $2,100,000 after buying an additional 1,197 shares in the last quarter. Finally, Parkwood LLC grew its position in Deere & Company by 22.2% during the third quarter. Parkwood LLC now owns 61,184 shares of the industrial products company’s stock worth $7,684,000 after buying an additional 11,128 shares in the last quarter. Institutional investors own 67.28% of the company’s stock.

Shares of Deere & Company (NYSE:DE) opened at $161.88 on Wednesday. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.12 and a quick ratio of 1.95. Deere & Company has a 52-week low of $106.72 and a 52-week high of $171.96. The stock has a market capitalization of $52,010.00, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 2.47 and a beta of 0.75.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, December 29th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Thursday, December 28th. Deere & Company’s dividend payout ratio (DPR) is presently 36.09%.

COPYRIGHT VIOLATION WARNING: This report was first reported by American Banking News and is owned by of American Banking News. If you are viewing this report on another domain, it was copied illegally and reposted in violation of United States & international trademark and copyright laws. The legal version of this report can be accessed at https://www.americanbankingnews.com/2018/02/07/6-40-billion-in-sales-expected-for-deere-company-de-this-quarter-2.html.

Deere & Company 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.

Get a free copy of the Zacks research report on Deere & Company (DE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Deere & Company (NYSE:DE)

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.

Leave a Reply