Zacks Investment Research lowered shares of Deere & Company (NYSE:DE) from a hold rating to a sell rating in a report released on Tuesday morning.
According to Zacks, “Deere’s results will be impacted by the ongoing weakness in the agricultural sector. On top of this, it will bear the brunt of elevated expenses in fiscal 2018. Unfavorable impacts of raw material prices, higher freight cost, emissions costs, incentive compensation, voluntary separation expenses and pension, and OPEB expense remain headwinds. Also, acquisition cost and purchase accounting related to the Wirtgen buyout will dampen near-term earnings. Deere’s stretched valuation is also a concern.”
DE has been the subject of a number of other reports. Deutsche Bank set a $155.00 target price on Deere & Company and gave the company a hold rating in a research note on Wednesday, September 5th. Argus lowered their price objective on Deere & Company to $160.00 and set a buy rating for the company in a research report on Monday, August 20th. Credit Suisse Group lowered their price objective on Deere & Company from $231.00 to $221.00 and set an outperform rating for the company in a research report on Monday, August 20th. Wells Fargo & Co lowered their price objective on Deere & Company from $190.00 to $180.00 and set a buy rating for the company in a research report on Monday, August 20th. Finally, Stifel Nicolaus lowered their price objective on Deere & Company from $193.00 to $190.00 and set a buy rating for the company in a research report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $177.75.
Shares of NYSE:DE opened at $138.52 on Tuesday. Deere & Company has a twelve month low of $128.32 and a twelve month high of $175.26. The firm has a market capitalization of $45.86 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.18 and a beta of 0.97. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.91 and a quick ratio of 1.66.
Deere & Company (NYSE:DE) last announced its earnings results on Wednesday, November 21st. The industrial products company reported $2.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.45 by ($0.15). Deere & Company had a net margin of 5.82% and a return on equity of 28.51%. The business had revenue of $8.34 billion during the quarter, compared to analyst estimates of $8.59 billion. During the same quarter last year, the business posted $1.57 earnings per share. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 9.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Friday, September 28th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Thursday, September 27th. Deere & Company’s dividend payout ratio (DPR) is presently 41.32%.
Several large investors have recently added to or reduced their stakes in DE. Whitener Capital Management Inc. bought a new stake in Deere & Company in the 3rd quarter valued at approximately $105,000. Kaizen Advisory LLC lifted its stake in Deere & Company by 158.4% in the 2nd quarter. Kaizen Advisory LLC now owns 796 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 488 shares in the last quarter. Patten Group Inc. bought a new stake in Deere & Company in the 3rd quarter valued at approximately $114,000. Amussen Hunsaker Associates LLC bought a new stake in Deere & Company in the 2nd quarter valued at approximately $122,000. Finally, Sun Life Financial INC lifted its stake in Deere & Company by 283.8% in the 2nd quarter. Sun Life Financial INC now owns 879 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 650 shares in the last quarter. Institutional investors and hedge funds own 65.26% of the company’s stock.
Deere & Company Company Profile
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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