Deere & Company (DE) to Post Q1 2018 Earnings of $0.90 Per Share, Jefferies Group Forecasts
Deere & Company (NYSE:DE) – Jefferies Group boosted their Q1 2018 earnings estimates for shares of Deere & Company in a research note issued to investors on Wednesday. Jefferies Group analyst S. Volkmann now forecasts that the industrial products company will post earnings of $0.90 per share for the quarter, up from their prior forecast of $0.80. Jefferies Group currently has a “Hold” rating and a $150.00 target price on the stock. Jefferies Group also issued estimates for Deere & Company’s Q2 2018 earnings at $2.70 EPS.
Several other analysts also recently weighed in on the stock. Citigroup Inc. restated a “buy” rating and set a $165.00 price objective on shares of Deere & Company in a research report on Friday. Wells Fargo & Company restated a “buy” rating and set a $170.00 price objective on shares of Deere & Company in a research report on Thursday. Deutsche Bank AG upgraded shares of Deere & Company from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $149.00 to $167.00 in a research report on Thursday. Royal Bank Of Canada restated a “sector perform” rating and set a $155.00 price objective (up previously from $134.00) on shares of Deere & Company in a research report on Wednesday, November 22nd. Finally, Robert W. Baird upgraded shares of Deere & Company from a “neutral” rating to an “outperform” rating and upped their price target for the company from $140.00 to $155.00 in a research report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $136.33.
Shares of Deere & Company (NYSE DE) opened at $145.50 on Monday. The firm has a market cap of $46,748.71, a P/E ratio of 21.91, a PEG ratio of 2.57 and a beta of 0.73. The company has a current ratio of 2.12, a quick ratio of 1.90 and a debt-to-equity ratio of 2.71. Deere & Company has a 12-month low of $99.84 and a 12-month high of $147.91.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Wednesday, November 22nd. The industrial products company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.10. The business had revenue of $7.09 billion during the quarter, compared to the consensus estimate of $6.91 billion. Deere & Company had a net margin of 7.22% and a return on equity of 26.31%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th were paid a $0.60 dividend. 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 & Company’s dividend payout ratio is currently 36.14%.
In other news, insider John C. May II sold 22,095 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $127.04, for a total transaction of $2,806,948.80. Following the transaction, the insider now directly owns 51,429 shares of the company’s stock, valued at approximately $6,533,540.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John C. May II sold 18,626 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $130.76, for a total transaction of $2,435,535.76. Following the transaction, the insider now directly owns 37,462 shares in the company, valued at $4,898,531.12. The disclosure for this sale can be found here. Insiders sold a total of 102,684 shares of company stock worth $13,270,809 over the last three months. 0.85% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of DE. QCI Asset Management Inc. NY grew its stake in shares of Deere & Company by 18.8% during the 2nd quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 150 shares during the period. Arrow Financial Corp grew its stake in shares of Deere & Company by 5.2% during the 2nd quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 50 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Deere & Company during the 3rd quarter worth $144,000. Harfst & Associates Inc. grew its stake in shares of Deere & Company by 44.2% during the 2nd quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 360 shares during the period. Finally, YorkBridge Wealth Partners LLC grew its stake in shares of Deere & Company by 1.1% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,236 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 13 shares during the period. 67.05% of the stock is currently owned by institutional investors and hedge funds.
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About Deere & Company
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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