Deere & Company (NYSE:DE) Expected to Post Earnings of $2.29 Per Share

Equities analysts expect Deere & Company (NYSE:DE) to announce earnings per share (EPS) of $2.29 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Deere & Company’s earnings, with the lowest EPS estimate coming in at $2.07 and the highest estimate coming in at $2.52. Deere & Company reported earnings of $2.30 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.4%. The firm is scheduled to report its next earnings results on Friday, August 16th.

On average, analysts expect that Deere & Company will report full year earnings of $10.17 per share for the current year, with EPS estimates ranging from $10.00 to $10.40. For the next financial year, analysts anticipate that the firm will post earnings of $11.66 per share, with EPS estimates ranging from $10.77 to $12.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Deere & Company.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, August 16th. The industrial products company reported $2.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.80 by ($0.09). Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. The business had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $9.38 billion. During the same period in the prior year, the firm posted $2.59 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis.

DE has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on Deere & Company from $158.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, June 21st. Robert W. Baird cut their price objective on Deere & Company from $170.00 to $150.00 and set a “positive” rating on the stock in a research report on Tuesday. Stephens assumed coverage on Deere & Company in a research report on Wednesday. They issued an “equal weight” rating and a $160.00 price objective on the stock. Wells Fargo & Co boosted their target price on Deere & Company from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, July 1st. Finally, Barclays restated a “buy” rating and issued a $167.00 target price on shares of Deere & Company in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $167.21.

DE stock traded up $5.52 during midday trading on Friday, hitting $149.23. The company’s stock had a trading volume of 3,442,100 shares, compared to its average volume of 2,066,842. The stock’s 50-day moving average price is $161.38 and its 200 day moving average price is $158.55. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 2.37. Deere & Company has a 1 year low of $128.32 and a 1 year high of $171.22. The stock has a market cap of $45.38 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.77 and a beta of 1.10.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, June 28th were paid a dividend of $0.76 per share. The ex-dividend date was Thursday, June 27th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.04%. Deere & Company’s payout ratio is 32.37%.

In related news, COO John C. May II sold 16,468 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the sale, the chief operating officer now directly owns 60,550 shares in the company, valued at approximately $9,882,365.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO John C. May II sold 5,228 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $170.00, for a total value of $888,760.00. Following the sale, the chief operating officer now owns 49,310 shares in the company, valued at $8,382,700. The disclosure for this sale can be found here. Insiders own 0.71% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. bought a new position in Deere & Company in the 2nd quarter worth about $28,000. Private Ocean LLC increased its stake in Deere & Company by 560.0% in the 1st quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 168 shares during the last quarter. Ellis Investment Partners LLC bought a new position in Deere & Company in the 1st quarter worth about $33,000. Arcus Capital Partners LLC bought a new position in Deere & Company in the 2nd quarter worth about $33,000. Finally, Orrstown Financial Services Inc. increased its stake in Deere & Company by 116.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 67.85% of the company’s stock.

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 and Estimates for Deere & Company (NYSE:DE)

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