Equities analysts expect Deere & Company (NYSE:DE) to announce $9.33 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Deere & Company’s earnings. The lowest sales estimate is $9.19 billion and the highest is $9.43 billion. Deere & Company posted sales of $9.29 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.4%. The firm is scheduled to issue its next quarterly earnings results on Friday, August 16th.
On average, analysts expect that Deere & Company will report full-year sales of $34.97 billion for the current financial year, with estimates ranging from $34.90 billion to $35.06 billion. For the next financial year, analysts expect that the firm will report sales of $36.12 billion, with estimates ranging from $35.32 billion to $37.14 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Deere & Company.
Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.57 by ($0.05). Deere & Company had a return on equity of 28.76% and a net margin of 8.52%. The company had revenue of $10.27 billion for the quarter, compared to analysts’ expectations of $10.19 billion. During the same quarter in the prior year, the firm earned $3.14 EPS. The firm’s revenue was up 5.4% on a year-over-year basis.
Several research analysts have recently commented on DE shares. Credit Suisse Group reduced their price target on Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a report on Tuesday, February 19th. DZ Bank downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Argus boosted their price objective on Deere & Company to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, February 20th. UBS Group started coverage on Deere & Company in a research report on Tuesday, April 23rd. They set a “neutral” rating and a $238.00 price objective for the company. Finally, Macquarie set a $132.00 price target on Deere & Company and gave the company a “hold” rating in a report on Monday, May 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $162.29.
Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc lifted its stake in shares of Deere & Company by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 22,698,615 shares of the industrial products company’s stock valued at $3,412,282,000 after purchasing an additional 210,597 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Deere & Company in the 4th quarter valued at about $47,000. Advisors Asset Management Inc. grew its holdings in Deere & Company by 2.8% during the fourth quarter. Advisors Asset Management Inc. now owns 22,607 shares of the industrial products company’s stock worth $3,372,000 after purchasing an additional 621 shares during the period. First Mercantile Trust Co. bought a new position in Deere & Company during the fourth quarter worth about $64,000. Finally, Pinnacle Associates Ltd. lifted its position in Deere & Company by 690.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 20,415 shares of the industrial products company’s stock worth $3,045,000 after acquiring an additional 17,833 shares during the last quarter. 68.10% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE DE traded down $0.39 during trading on Tuesday, hitting $151.14. 13,358 shares of the company were exchanged, compared to its average volume of 2,496,307. Deere & Company has a 12-month low of $128.32 and a 12-month high of $169.99. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 2.37. The firm has a market cap of $47.17 billion, a PE ratio of 16.09, a P/E/G ratio of 1.85 and a beta of 1.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Friday, June 28th will be given a dividend of $0.76 per share. The ex-dividend date is Thursday, June 27th. This represents a $3.04 annualized dividend and a dividend yield of 2.01%. Deere & Company’s dividend payout ratio is presently 32.37%.
About Deere & Company
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
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