Deere & Company (NYSE:DE) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Deere & Company (NYSE:DE) released its quarterly earnings data on Wednesday. The industrial products company reported $2.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.01, RTT News reports. The company had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.41 billion. Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. Deere & Company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $2.30 EPS.

Shares of NYSE:DE opened at $176.65 on Wednesday. The stock has a market cap of $55.22 billion, a PE ratio of 18.81, a PEG ratio of 2.37 and a beta of 1.15. The company’s fifty day moving average is $173.93 and its 200 day moving average is $160.86. Deere & Company has a 52 week low of $132.68 and a 52 week high of $180.48. The company has a quick ratio of 1.73, a current ratio of 1.99 and a debt-to-equity ratio of 2.38.

DE has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Deere & Company from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Citigroup reiterated a “buy” rating and issued a $175.16 target price on shares of Deere & Company in a research note on Tuesday. Barclays set a $180.00 target price on shares of Deere & Company and gave the stock a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. reiterated a “sell” rating and issued a $140.00 target price on shares of Deere & Company in a research note on Monday. Finally, Bank of America cut shares of Deere & Company from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. Deere & Company currently has a consensus rating of “Hold” and an average price target of $172.45.

In other Deere & Company news, Chairman Samuel R. Allen sold 114,253 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $178.30, for a total value of $20,371,309.90. Following the sale, the chairman now owns 423,497 shares of the company’s stock, valued at approximately $75,509,515.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James M. Field sold 12,637 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $180.00, for a total transaction of $2,274,660.00. Following the completion of the sale, the insider now directly owns 113,858 shares in the company, valued at approximately $20,494,440. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

About Deere & Company

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Earnings History for Deere & Company (NYSE:DE)

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