Deere & Company FY2027 EPS Increased by Erste Group Bank

Key Points

• Erste Group Bank raised Deere’s FY2027 EPS forecast to $22.60 from $22.50, above the current full-year consensus estimate of $18.12.
• Deere’s latest quarterly results exceeded expectations, with EPS of $5.10 versus the $4.69 consensus and revenue of $12.61 billion versus estimates of $10.81 billion. Revenue increased 6.2% year over year.
• Analyst sentiment remains positive overall, with 17 Buy ratings and eight Holds producing a “Moderate Buy” consensus and an average price target of $680.73. Deere also declared a quarterly dividend of $1.62 per share, equal to a 1.0% yield.

Deere & Company (NYSE:DE - Free Report) - Stock analysts at Erste Group Bank raised their FY2027 EPS estimates for Deere & Company in a research note issued on Tuesday, September 8th. Erste Group Bank analyst S. Lingnau now forecasts that the industrial products company will earn $22.60 per share for the year, up from their prior forecast of $22.50. The consensus estimate for Deere & Company's current full-year earnings is $18.12 per share.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.69 by $0.41. The business had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.75 earnings per share.

Several other equities analysts have also recently commented on DE. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. Oppenheimer upped their price objective on Deere & Company from $680.00 to $685.00 and gave the stock an "outperform" rating in a research report on Thursday, August 20th. Bank of America reduced their price objective on Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Robert W. Baird upgraded Deere & Company from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $640.00 to $800.00 in a report on Monday, August 31st. Finally, Nomura raised Deere & Company to a "buy" rating in a research note on Monday, August 31st. Seventeen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Deere & Company has an average rating of "Moderate Buy" and a consensus price target of $680.73.

Deere & Company Price Performance

Shares of DE opened at $676.25 on Monday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $705.88. The firm's 50 day moving average price is $624.58 and its 200 day moving average price is $598.03. The company has a market cap of $182.33 billion, a P/E ratio of 37.57, a PEG ratio of 2.79 and a beta of 0.90. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45.

Institutional Investors Weigh In On Deere & Company

Large investors have recently modified their holdings of the company. California State Teachers Retirement System grew its stake in shares of Deere & Company by 60,460.4% during the second quarter. California State Teachers Retirement System now owns 234,586,018 shares of the industrial products company's stock worth $148,804,949,000 after purchasing an additional 234,198,659 shares in the last quarter. BlackRock Inc. acquired a new stake in Deere & Company in the second quarter valued at $11,763,504,000. State Street Corp raised its stake in Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock valued at $4,898,717,000 after buying an additional 97,049 shares in the last quarter. Capital World Investors lifted its holdings in Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock worth $4,465,906,000 after buying an additional 3,358,264 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Deere & Company by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company's stock worth $3,581,574,000 after buying an additional 158,584 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company's payout ratio is 36.00%.

Deere & Company Company Profile

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.

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