Erste Group Bank Cuts Earnings Estimates for Deere & Company

Key Points

• Erste Group Bank trimmed its FY2027 EPS estimate for Deere & Company to $22.81 from $23.00, though that is still well above the current consensus estimate of $18.13 per share.
• Analyst sentiment remains mixed but constructive, with Deere carrying a “Moderate Buy” consensus and an average price target of $642.98 across Wall Street coverage.
• Deere’s latest quarter beat expectations, reporting EPS of $6.55 versus $5.70 expected on revenue of $13.37 billion, while shares were up about 1.5% and recently traded at $598.56.

Deere & Company (NYSE:DE - Free Report) - Investment analysts at Erste Group Bank dropped their FY2027 earnings per share (EPS) estimates for shares of Deere & Company in a research report issued to clients and investors on Wednesday, July 15th. Erste Group Bank analyst S. Lingnau now expects that the industrial products company will post earnings per share of $22.81 for the year, down from their previous estimate of $23.00. The consensus estimate for Deere & Company's current full-year earnings is $18.13 per share.

Several other equities analysts also recently commented on the stock. Robert W. Baird dropped their price objective on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Jefferies Financial Group raised shares of Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 target price on the stock in a research note on Wednesday, April 8th. Truist Financial upped their target price on Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Barclays lifted their price target on Deere & Company from $530.00 to $640.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Finally, Bank of America lowered their price objective on Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company has an average rating of "Moderate Buy" and an average price target of $642.98.

Deere & Company Stock Up 1.5%

Shares of NYSE DE opened at $598.56 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a market cap of $161.58 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.18 and a beta of 0.89. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The stock has a 50-day moving average price of $582.10 and a two-hundred day moving average price of $571.13.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the prior year, the company earned $6.64 EPS. Deere & Company's revenue for the quarter was up 5.4% on a year-over-year basis.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company's dividend payout ratio (DPR) is 36.71%.

Institutional Investors Weigh In On Deere & Company

Several institutional investors and hedge funds have recently made changes to their positions in the business. Anchyra Partners LLC boosted its holdings in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock worth $1,797,000 after buying an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. raised its holdings in shares of Deere & Company by 0.6% during the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock valued at $1,638,000 after purchasing an additional 17 shares during the period. Advisortrust Partners LLC raised its holdings in shares of Deere & Company by 2.0% during the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company's stock valued at $515,000 after purchasing an additional 18 shares during the period. Cerro Pacific Wealth Advisors LLC boosted its position in shares of Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock worth $1,480,000 after purchasing an additional 19 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of Deere & Company by 2.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock valued at $379,000 after buying an additional 19 shares during the period. Institutional investors own 68.58% of the company's stock.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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