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.
Featured Article: What Is Dividend Yield and How Do You Calculate It?
Get a free copy of the Zacks research report on Deere & Company (DE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
20 "Past Their Prime" Stocks to Dump From Your Portfolio
Did you know the S&P 500 as we know it today does not look anything close to what it looked like 30 years ago? In 1987, IBM, Exxon, GE, Shell, AT&T, Merck, Du Pont, Philip Morris, Ford and GM had the largest market caps on the S&P 500. ExxonMobil is the only company on that list to remain in the top 10 in 2017. Even just 15 years ago, companies like Radio Shack, AOL, Yahoo and Blockbuster were an important part of the S&P 500. Now, these companies no longer exist as public companies.
As the years go by, some companies lose their luster and others rise to the top of the markets. We've already seen this in the last few decades with tech companies surpassing industrial and energy companies that once dominated the S&P 500. It's hard to know what the next mega trend will be that will knock Apple, Google and Amazon off the top rankings of the S&P 500, but we do know that companies won't stay on the S&P 500 forever.
We've identified 20 companies that are past their prime. They aren't at risk of a near-term delisting from the S&P 500, but they are showing negative earnings growth for the next several years. If you own any of these stocks, consider selling them now before they become the next Yahoo, Radio Shack, Blockbuster, AOL and are sold off for a fraction of their former value.
View the "20 "Past Their Prime" Stocks to Dump From Your Portfolio".