Deere & Company (DE) Expected to Post Earnings of $3.26 Per Share

Wall Street analysts expect that Deere & Company (NYSE:DE) will report $3.26 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Deere & Company’s earnings, with the highest EPS estimate coming in at $3.55 and the lowest estimate coming in at $2.98. Deere & Company reported earnings of $2.49 per share in the same quarter last year, which would indicate a positive year over year growth rate of 30.9%. The firm is scheduled to issue its next earnings results on Friday, May 18th.

On average, analysts expect that Deere & Company will report full-year earnings of $9.30 per share for the current fiscal year, with EPS estimates ranging from $8.00 to $10.00. For the next fiscal year, analysts expect that the business will report earnings of $11.19 per share, with EPS estimates ranging from $9.82 to $12.00. Zacks’ EPS averages are an average based on a survey of analysts that follow Deere & Company.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.15. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. The firm had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $6.41 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s revenue for the quarter was up 27.2% on a year-over-year basis.

DE has been the topic of several recent analyst reports. Stifel Nicolaus increased their price target on Deere & Company to $161.00 and gave the stock a “buy” rating in a report on Monday, November 27th. Argus reiterated a “buy” rating and issued a $165.00 price target on shares of Deere & Company in a report on Monday, November 27th. They noted that the move was a valuation call. Citigroup reiterated a “buy” rating and issued a $165.00 price target on shares of Deere & Company in a report on Friday, November 24th. Credit Suisse Group reiterated a “buy” rating and issued a $162.00 price target on shares of Deere & Company in a report on Thursday, November 23rd. Finally, Wells Fargo & Co reiterated a “buy” rating and issued a $170.00 price target on shares of Deere & Company in a report on Thursday, November 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Deere & Company presently has a consensus rating of “Buy” and an average target price of $170.86.

Shares of Deere & Company (NYSE DE) traded up $2.07 during midday trading on Thursday, hitting $164.16. The stock had a trading volume of 1,904,839 shares, compared to its average volume of 2,610,000. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.69 and a current ratio of 1.98. Deere & Company has a 12-month low of $106.72 and a 12-month high of $175.26. The stock has a market capitalization of $53,070.00, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 2.40 and a beta of 0.75.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, December 29th were issued a $0.60 dividend. The ex-dividend date was Thursday, December 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.46%. Deere & Company’s dividend payout ratio is presently 35.93%.

In other news, VP Mary K.W. Jones sold 34,136 shares of Deere & Company stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $124.72, for a total value of $4,257,441.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Rajesh Kalathur sold 4,519 shares of Deere & Company stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $148.92, for a total value of $672,969.48. Following the completion of the transaction, the chief financial officer now owns 36,288 shares in the company, valued at $5,404,008.96. The disclosure for this sale can be found here. Insiders sold a total of 239,872 shares of company stock worth $36,859,369 over the last quarter. Company insiders own 0.74% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Capital International Investors boosted its position in shares of Deere & Company by 35.4% in the 3rd quarter. Capital International Investors now owns 8,807,474 shares of the industrial products company’s stock worth $1,106,131,000 after purchasing an additional 2,300,531 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Deere & Company by 21.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,621,764 shares of the industrial products company’s stock worth $454,857,000 after purchasing an additional 634,001 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Deere & Company by 11.4% in the 4th quarter. Lazard Asset Management LLC now owns 2,740,365 shares of the industrial products company’s stock worth $428,894,000 after purchasing an additional 280,750 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Deere & Company by 128.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,587,339 shares of the industrial products company’s stock worth $324,942,000 after purchasing an additional 1,453,754 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Deere & Company by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 1,660,073 shares of the industrial products company’s stock worth $208,473,000 after purchasing an additional 36,865 shares in the last quarter. Institutional investors and hedge funds own 66.24% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Deere & Company (DE) Expected to Post Earnings of $3.26 Per Share” was originally reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright laws. The original version of this piece can be viewed at https://www.thelincolnianonline.com/2018/02/22/deere-company-de-expected-to-post-earnings-of-3-26-per-share.html.

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.

Get a free copy of the Zacks research report on Deere & Company (DE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply