Deere & Company (DE) Expected to Post Earnings of $1.75 Per Share

Equities research analysts expect that Deere & Company (NYSE:DE) will announce earnings of $1.75 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Deere & Company’s earnings, with estimates ranging from $1.43 to $1.95. Deere & Company reported earnings per share of $1.31 in the same quarter last year, which would indicate a positive year over year growth rate of 33.6%. The company is expected to issue its next earnings report on Friday, February 15th.

According to Zacks, analysts expect that Deere & Company will report full year earnings of $11.56 per share for the current financial year, with EPS estimates ranging from $10.95 to $12.00. For the next financial year, analysts anticipate that the company will report earnings of $12.66 per share, with EPS estimates ranging from $11.58 to $13.67. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Deere & Company.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Wednesday, November 21st. The industrial products company reported $2.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.44 by ($0.14). 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 period last year, the company earned $1.57 EPS. The business’s revenue for the quarter was up 17.6% on a year-over-year basis.

DE has been the topic of several recent analyst reports. Zacks Investment Research lowered Deere & Company from a “hold” rating to a “sell” rating in a research note on Tuesday. Deutsche Bank set a $155.00 target price on Deere & Company and gave the stock a “hold” rating in a research note on Wednesday, September 5th. Wells Fargo & Co decreased their target price on Deere & Company from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 20th. JPMorgan Chase & Co. set a $145.00 target price on Deere & Company and gave the stock a “hold” rating in a research note on Monday, August 13th. Finally, Credit Suisse Group decreased their target price on Deere & Company from $231.00 to $221.00 and set an “outperform” rating on the stock in a research note on Monday, August 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $176.71.

Shares of Deere & Company stock traded up $3.36 during trading hours on Thursday, hitting $141.88. The company’s stock had a trading volume of 4,987,582 shares, compared to its average volume of 2,636,143. Deere & Company has a twelve month low of $128.32 and a twelve month high of $175.26. The firm has a market cap of $44.56 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.11 and a beta of 0.97. The company has a quick ratio of 1.66, a current ratio of 1.91 and a debt-to-equity ratio of 2.59.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Friday, September 28th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.95%. The ex-dividend date was Thursday, September 27th. Deere & Company’s payout ratio is 41.32%.

Hedge funds have recently bought and sold shares of the business. Whitener Capital Management Inc. acquired a new stake in Deere & Company in the 3rd quarter valued at about $105,000. Kaizen Advisory LLC raised its position 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 purchasing an additional 488 shares in the last quarter. Patten Group Inc. acquired a new stake in Deere & Company in the 3rd quarter valued at about $114,000. Amussen Hunsaker Associates LLC acquired a new stake in Deere & Company in the 2nd quarter valued at about $122,000. Finally, Sun Life Financial INC raised its position 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 purchasing an additional 650 shares in the last quarter. 65.26% of the stock is currently owned by institutional investors.

About Deere & Company

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

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