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$1.23 EPS Expected for Deere & Company (NYSE:DE) This Quarter

Last updated on Saturday, October 24, 2020 | 2020 MarketBeat

Brokerages expect Deere & Company (NYSE:DE) to report earnings of $1.23 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Deere & Company's earnings. The lowest EPS estimate is $0.84 and the highest is $1.77. Deere & Company posted earnings of $2.14 per share in the same quarter last year, which would indicate a negative year over year growth rate of 42.5%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 25th.

On average, analysts expect that Deere & Company will report full year earnings of $7.57 per share for the current fiscal year, with EPS estimates ranging from $7.15 to $8.07. For the next year, analysts expect that the company will report earnings of $10.34 per share, with EPS estimates ranging from $9.30 to $11.50. Zacks Investment Research's EPS calculations are an average based on a survey of sell-side analysts that cover Deere & Company.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Friday, August 21st. The industrial products company reported $2.57 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $1.26 by $1.31. The business had revenue of $7.86 billion during the quarter, compared to the consensus estimate of $6.70 billion. Deere & Company had a return on equity of 22.24% and a net margin of 7.61%. The company's revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.71 earnings per share.

DE has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Deere & Company from $247.00 to $263.00 and gave the company an "overweight" rating in a report on Monday, October 12th. Zacks Investment Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating and set a $202.00 price target for the company in a research note on Tuesday, July 28th. BMO Capital Markets upped their price target on Deere & Company from $150.00 to $235.00 and gave the stock an "outperform" rating in a research note on Monday, August 17th. Credit Suisse Group upped their price target on Deere & Company from $179.00 to $223.00 and gave the stock an "outperform" rating in a research note on Monday, August 24th. Finally, Jefferies Financial Group upped their price target on Deere & Company from $165.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, July 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of "Buy" and a consensus target price of $216.08.

Shares of DE stock traded up $2.65 during trading hours on Friday, hitting $239.53. The stock had a trading volume of 820,498 shares, compared to its average volume of 1,786,292. The firm has a market capitalization of $75.06 billion, a PE ratio of 27.92, a PEG ratio of 3.86 and a beta of 0.92. Deere & Company has a twelve month low of $106.14 and a twelve month high of $243.40. The stock's 50 day moving average is $224.03 and its 200 day moving average is $176.76. The company has a debt-to-equity ratio of 2.64, a current ratio of 2.26 and a quick ratio of 2.03.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Tuesday, September 29th. Deere & Company's dividend payout ratio is currently 30.58%.

In related news, CAO Marc A. Howze sold 7,996 shares of the firm's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $208.17, for a total transaction of $1,664,527.32. Following the sale, the chief accounting officer now directly owns 22,440 shares in the company, valued at approximately $4,671,334.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Pentz Markwart Von sold 9,912 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $185.00, for a total value of $1,833,720.00. Following the sale, the insider now owns 70,324 shares in the company, valued at $13,009,940. The disclosure for this sale can be found here. Insiders sold a total of 28,668 shares of company stock worth $5,435,047 over the last ninety days. Corporate insiders own 0.70% of the company's stock.

Large investors have recently made changes to their positions in the stock. CX Institutional raised its holdings in shares of Deere & Company by 662.5% during the 2nd quarter. CX Institutional now owns 183 shares of the industrial products company's stock valued at $29,000 after buying an additional 159 shares during the period. TCTC Holdings LLC purchased a new stake in shares of Deere & Company during the 2nd quarter valued at about $47,000. Baystate Wealth Management LLC raised its holdings in shares of Deere & Company by 32.6% during the 2nd quarter. Baystate Wealth Management LLC now owns 321 shares of the industrial products company's stock valued at $51,000 after buying an additional 79 shares during the period. Watson Rebecca purchased a new stake in shares of Deere & Company during the 2nd quarter valued at about $55,000. Finally, Global Trust Asset Management LLC raised its holdings in shares of Deere & Company by 4,487.5% during the 2nd quarter. Global Trust Asset Management LLC now owns 367 shares of the industrial products company's stock valued at $58,000 after buying an additional 359 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Deere & Company Company Profile

Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural management systems technology and solutions; and other outdoor power products.

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