Wall Street analysts forecast that Deere & Company (NYSE:DE) will report $1.76 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have made estimates for Deere & Company’s earnings, with the highest EPS estimate coming in at $1.92 and the lowest estimate coming in at $1.50. Deere & Company reported earnings per share of $1.31 in the same quarter last year, which would suggest a positive year over year growth rate of 34.4%. The firm is expected to report its next quarterly earnings results on Friday, February 15th.
According to Zacks, analysts expect that Deere & Company will report full-year earnings of $11.48 per share for the current year, with EPS estimates ranging from $11.16 to $12.00. For the next financial year, analysts expect that the business will post earnings of $12.88 per share, with EPS estimates ranging from $12.14 to $13.50. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Deere & Company.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Wednesday, November 21st. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.44 by ($0.14). Deere & Company had a return on equity of 29.61% and a net margin of 6.34%. The company had revenue of $8.34 billion for the quarter, compared to analysts’ expectations of $8.59 billion. During the same period in the prior year, the business earned $1.57 EPS. The business’s quarterly revenue was up 17.6% compared to the same quarter last year.
A number of equities research analysts have weighed in on the company. Stifel Nicolaus decreased their price target on Deere & Company from $193.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, August 20th. Robert W. Baird set a $165.00 price target on Deere & Company and gave the stock a “buy” rating in a research note on Friday, November 23rd. UBS Group set a $177.00 price target on Deere & Company and gave the stock a “buy” rating in a research note on Friday, November 23rd. Deutsche Bank set a $155.00 price target on Deere & Company and gave the stock a “hold” rating in a research note on Wednesday, September 5th. Finally, Zacks Investment Research reissued a “hold” rating on shares of Deere & Company in a research note on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $177.35.
In other Deere & Company news, CFO Rajesh Kalathur sold 11,133 shares of the business’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $151.47, for a total value of $1,686,315.51. Following the completion of the transaction, the chief financial officer now directly owns 42,244 shares in the company, valued at approximately $6,398,698.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.74% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its stake in shares of Deere & Company by 2.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,344,605 shares of the industrial products company’s stock valued at $187,976,000 after buying an additional 29,532 shares during the period. NumerixS Investment Technologies Inc boosted its position in Deere & Company by 56.3% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 7,500 shares of the industrial products company’s stock worth $1,046,000 after purchasing an additional 2,700 shares during the period. Atria Investments LLC boosted its position in Deere & Company by 14.4% during the 3rd quarter. Atria Investments LLC now owns 7,430 shares of the industrial products company’s stock worth $1,117,000 after purchasing an additional 935 shares during the period. Public Employees Retirement System of Ohio boosted its position in Deere & Company by 6.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 249,702 shares of the industrial products company’s stock worth $34,908,000 after purchasing an additional 14,426 shares during the period. Finally, Marco Investment Management LLC boosted its position in Deere & Company by 16.6% during the 2nd quarter. Marco Investment Management LLC now owns 7,482 shares of the industrial products company’s stock worth $1,046,000 after purchasing an additional 1,065 shares during the period. 65.54% of the stock is owned by institutional investors.
Shares of DE opened at $147.26 on Friday. Deere & Company has a twelve month low of $128.32 and a twelve month high of $175.26. The company has a market capitalization of $48.76 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.67 and a current ratio of 1.92.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Monday, December 31st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Friday, December 28th. This is an increase from Deere & Company’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a yield of 2.06%. Deere & Company’s payout ratio is 29.39%.
About Deere & Company
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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