Brokerages Anticipate Deere & Company (DE) Will Announce Quarterly Sales of $6.88 Billion
Brokerages forecast that Deere & Company (NYSE:DE) will announce $6.88 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Deere &’s earnings, with estimates ranging from $6.76 billion to $6.93 billion. Deere & posted sales of $5.86 billion in the same quarter last year, which would indicate a positive year over year growth rate of 17.4%. The business is scheduled to announce its next quarterly earnings results before the market opens on Friday, August 18th.
On average, analysts expect that Deere & will report full-year sales of $6.88 billion for the current fiscal year, with estimates ranging from $25.33 billion to $25.53 billion. For the next financial year, analysts forecast that the firm will post sales of $26.69 billion per share, with estimates ranging from $26.20 billion to $27.27 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Deere &.
Deere & (NYSE:DE) last posted its earnings results on Friday, May 19th. The industrial products company reported $2.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.79. The firm had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.27 billion. Deere & had a net margin of 6.52% and a return on equity of 24.85%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.56 EPS.
DE has been the subject of a number of recent research reports. Credit Suisse Group set a $132.00 price target on Deere & and gave the stock a “buy” rating in a research note on Wednesday, April 12th. Barclays PLC reaffirmed a “sell” rating and set a $82.00 price target (up from $80.00) on shares of Deere & in a research note on Tuesday, April 18th. BMO Capital Markets reaffirmed a “buy” rating and set a $128.00 price target on shares of Deere & in a research note on Thursday, April 20th. J P Morgan Chase & Co raised Deere & to an “underweight” rating and raised their price target for the stock from $90.00 to $94.00 in a research note on Monday, May 1st. Finally, Stifel Nicolaus raised their price target on Deere & from $126.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, May 22nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. Deere & has an average rating of “Hold” and an average price target of $122.60.
Shares of Deere & (NYSE:DE) opened at 132.41 on Thursday. The firm has a market cap of $42.35 billion, a P/E ratio of 23.84 and a beta of 0.67. Deere & has a 52-week low of $76.73 and a 52-week high of $132.50. The company’s 50-day moving average is $126.50 and its 200-day moving average is $116.42. Deere & also saw unusually large options trading on Monday. Traders acquired 731 call options on the company. This is an increase of 255% compared to the typical volume of 206 call options.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Wednesday, June 28th. Deere &’s dividend payout ratio is currently 43.24%.
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In other news, insider Max A. Guinn sold 5,000 shares of Deere & stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total transaction of $654,450.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cory J. Reed sold 4,936 shares of Deere & stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $128.00, for a total value of $631,808.00. Following the sale, the insider now directly owns 9,903 shares in the company, valued at approximately $1,267,584. The disclosure for this sale can be found here. Insiders have sold a total of 130,988 shares of company stock worth $16,451,037 in the last three months. 0.85% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Kistler Tiffany Companies LLC raised its stake in shares of Deere & by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,023 shares of the industrial products company’s stock valued at $220,000 after buying an additional 8 shares during the last quarter. Nadler Financial Group Inc. raised its stake in shares of Deere & by 0.4% in the second quarter. Nadler Financial Group Inc. now owns 2,704 shares of the industrial products company’s stock valued at $334,000 after buying an additional 10 shares during the last quarter. Blue Chip Partners Inc. raised its stake in shares of Deere & by 0.3% in the second quarter. Blue Chip Partners Inc. now owns 3,687 shares of the industrial products company’s stock valued at $456,000 after buying an additional 10 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Deere & by 1.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock valued at $123,000 after buying an additional 16 shares during the last quarter. Finally, RMB Capital Management LLC raised its stake in shares of Deere & by 0.6% in the first quarter. RMB Capital Management LLC now owns 3,329 shares of the industrial products company’s stock valued at $362,000 after buying an additional 19 shares during the last quarter. 67.35% of the stock is currently owned by institutional investors.
Deere & Company Profile
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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