Deere & Company (DE) Announces Earnings Results
Deere & Company (NYSE:DE) issued its quarterly earnings results on Wednesday. The industrial products company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10, Bloomberg Earnings reports. The company had revenue of $7.09 billion for the quarter, compared to the consensus estimate of $6.91 billion. Deere & had a return on equity of 25.96% and a net margin of 6.81%. Deere &’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 earnings per share.
Shares of Deere & (NYSE DE) opened at $145.25 on Thursday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.90 and a current ratio of 2.10. The stock has a market capitalization of $44,734.17, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 2.47 and a beta of 0.73. Deere & has a one year low of $98.57 and a one year high of $146.00.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.40 annualized dividend and a yield of 1.65%. Deere &’s dividend payout ratio (DPR) is 40.20%.
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In other news, insider John C. May II sold 22,095 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $127.04, for a total transaction of $2,806,948.80. Following the completion of the transaction, the insider now directly owns 51,429 shares in the company, valued at $6,533,540.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Pentz Markwart Von sold 24,143 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $135.33, for a total value of $3,267,272.19. Following the transaction, the insider now owns 57,086 shares of the company’s stock, valued at $7,725,448.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,684 shares of company stock valued at $13,270,809. 0.85% of the stock is owned by insiders.
Several equities analysts have recently weighed in on DE shares. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Deere & in a research report on Sunday, August 20th. Credit Suisse Group set a $148.00 target price on Deere & and gave the company a “buy” rating in a research report on Friday, August 18th. Argus restated a “buy” rating and issued a $140.00 target price on shares of Deere & in a research report on Tuesday, August 22nd. Stifel Nicolaus set a $135.00 target price on Deere & and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Finally, ValuEngine upgraded Deere & from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. Deere & has an average rating of “Hold” and a consensus price target of $131.93.
About Deere &
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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