Zacks: Analysts Anticipate Deere & Company (DE) to Post $1.41 EPS
Brokerages expect Deere & Company (NYSE:DE) to post earnings of $1.41 per share for the current quarter, Zacks reports. Five analysts have provided estimates for Deere &’s earnings. The highest EPS estimate is $1.56 and the lowest is $1.32. Deere & reported earnings per share of $0.90 in the same quarter last year, which indicates a positive year over year growth rate of 56.7%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 22nd.
On average, analysts expect that Deere & will report full year earnings of $6.47 per share for the current financial year, with EPS estimates ranging from $6.25 to $6.63. For the next fiscal year, analysts forecast that the business will post earnings of $6.91 per share, with EPS estimates ranging from $6.10 to $7.50. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Deere &.
Deere & (NYSE:DE) last announced its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.04. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.92 billion. Deere & had a return on equity of 31.67% and a net margin of 8.15%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.55 EPS.
A number of analysts have recently commented on the company. BidaskClub cut Deere & from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Piper Jaffray Companies set a $119.00 price objective on Deere & and gave the company a “hold” rating in a research report on Friday, August 25th. Stifel Nicolaus set a $135.00 price objective on Deere & and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Argus reaffirmed a “buy” rating and issued a $140.00 price target on shares of Deere & in a research note on Tuesday, August 22nd. Finally, Credit Suisse Group lowered Deere & from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $127.58.
In other Deere & news, insider Pentz Markwart Von sold 46,457 shares of Deere & stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $116.74, for a total value of $5,423,390.18. Following the sale, the insider now owns 47,165 shares in the company, valued at $5,506,042.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Max A. Guinn sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $130.89, for a total value of $654,450.00. The disclosure for this sale can be found here. Insiders sold 96,676 shares of company stock worth $11,856,934 in the last 90 days. Company insiders own 0.85% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Deere & by 5.6% in the second quarter. Vanguard Group Inc. now owns 21,593,762 shares of the industrial products company’s stock valued at $2,668,774,000 after buying an additional 1,153,484 shares in the last quarter. BlackRock Inc. increased its stake in Deere & by 2.5% in the second quarter. BlackRock Inc. now owns 17,125,313 shares of the industrial products company’s stock valued at $2,116,517,000 after buying an additional 409,861 shares in the last quarter. State Street Corp increased its stake in Deere & by 0.4% in the first quarter. State Street Corp now owns 12,267,999 shares of the industrial products company’s stock valued at $1,335,500,000 after buying an additional 45,695 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Deere & by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock valued at $724,205,000 after buying an additional 322,158 shares in the last quarter. Finally, Capital International Investors increased its stake in Deere & by 14.4% in the second quarter. Capital International Investors now owns 6,506,943 shares of the industrial products company’s stock valued at $804,193,000 after buying an additional 820,991 shares in the last quarter. Hedge funds and other institutional investors own 67.21% of the company’s stock.
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Shares of Deere & (NYSE DE) traded up 0.5264% on Friday, hitting $116.0979. The company had a trading volume of 1,250,669 shares. The company has a market capitalization of $37.24 billion, a price-to-earnings ratio of 19.2822 and a beta of 0.67. The stock’s 50-day moving average is $125.70 and its 200 day moving average is $117.56. Deere & has a 52 week low of $80.35 and a 52 week high of $132.50.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, September 29th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 2.08%. Deere &’s dividend payout ratio is currently 40.20%.
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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