Wall Street brokerages forecast that Deere & Company (NYSE:DE) will report $8.49 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Deere & Company’s earnings. The highest sales estimate is $8.70 billion and the lowest is $8.39 billion. Deere & Company reported sales of $8.34 billion in the same quarter last year, which indicates a positive year over year growth rate of 1.8%. The business is scheduled to report its next quarterly earnings report on Wednesday, November 20th.
On average, analysts expect that Deere & Company will report full-year sales of $34.75 billion for the current year, with estimates ranging from $34.57 billion to $35.06 billion. For the next financial year, analysts anticipate that the firm will report sales of $36.07 billion, with estimates ranging from $35.13 billion to $37.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Deere & Company.
Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, August 16th. The industrial products company reported $2.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.80 by ($0.09). The company had revenue of $8.97 billion for the quarter, compared to analyst estimates of $9.38 billion. Deere & Company had a return on equity of 27.75% and a net margin of 8.55%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the firm posted $2.59 EPS.
In related news, COO John C. May II sold 5,228 shares of the business’s stock in a transaction on Friday, July 26th. The stock was 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 approximately $8,382,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John C. May II sold 16,468 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $163.21, for a total value of $2,687,742.28. Following the completion of the sale, the chief operating officer now owns 60,550 shares in the company, valued at approximately $9,882,365.50. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Deere & Company by 9.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 89,798 shares of the industrial products company’s stock valued at $14,880,000 after buying an additional 7,617 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Deere & Company in the 2nd quarter valued at $309,000. Natixis purchased a new stake in shares of Deere & Company in the 2nd quarter valued at $15,407,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Deere & Company in the 2nd quarter valued at $23,222,000. Finally, Hellman Jordan Management Co. Inc. MA raised its holdings in shares of Deere & Company by 90.2% in the 2nd quarter. Hellman Jordan Management Co. Inc. MA now owns 6,326 shares of the industrial products company’s stock valued at $1,048,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 67.67% of the company’s stock.
NYSE DE traded up $2.16 on Tuesday, reaching $165.42. 1,668,742 shares of the company were exchanged, compared to its average volume of 1,862,522. The business’s fifty day moving average price is $155.84 and its 200 day moving average price is $157.52. The stock has a market capitalization of $51.41 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 2.34 and a beta of 1.15. The company has a current ratio of 1.99, a quick ratio of 1.73 and a debt-to-equity ratio of 2.38. Deere & Company has a fifty-two week low of $128.32 and a fifty-two week high of $171.22.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, September 27th. Deere & Company’s dividend payout ratio (DPR) is presently 32.37%.
Deere & Company Company Profile
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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