Deere & Company (NYSE:DE) Releases Earnings Results, Beats Estimates By $0.22 EPS

Deere & Company (NYSE:DE) announced its quarterly earnings data on Tuesday. The industrial products company reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.90 by $0.22, MarketWatch Earnings reports. The firm had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.48 billion. Deere & Company had a return on equity of 37.60% and a net margin of 12.82%. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.39 EPS.

Shares of DE stock traded up $18.58 on Thursday, reaching $367.86. 4,482,294 shares of the stock were exchanged, compared to its average volume of 1,719,397. The stock has a market cap of $114.06 billion, a PE ratio of 21.31, a P/E/G ratio of 0.74 and a beta of 1.08. Deere & Company has a one year low of $250.54 and a one year high of $400.34. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.17 and a quick ratio of 1.93. The stock has a 50 day moving average price of $346.69 and a 200 day moving average price of $355.58.

An institutional investor recently raised its position in Deere & Company stock. Morgan Stanley lifted its position in shares of Deere & Company (NYSE:DE) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,479,850 shares of the industrial products company’s stock after acquiring an additional 133,091 shares during the quarter. Morgan Stanley owned approximately 0.79% of Deere & Company worth $874,668,000 at the end of the most recent reporting period. Institutional investors own 75.35% of the company’s stock.

DE has been the subject of a number of recent research reports. Zacks Investment Research downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $375.00 price target for the company. in a research note on Friday, November 19th. Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $383.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, November 17th. Evercore ISI lowered Deere & Company from an “outperform” rating to an “inline” rating and lowered their target price for the company from $470.00 to $354.00 in a report on Thursday, October 14th. JPMorgan Chase & Co. lowered their target price on Deere & Company from $346.00 to $297.00 and set an “underweight” rating on the stock in a report on Monday, October 4th. Finally, Credit Suisse Group raised their target price on Deere & Company from $439.00 to $440.00 and gave the company an “outperform” rating in a report on Monday, August 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Buy” and a consensus price target of $382.63.

Deere & Company Company Profile

Deere & Co engages in the manufacturing and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf; Construction and Forestry; and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacturing of full line of agriculture and turf equipment and related service parts.

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Earnings History for Deere & Company (NYSE:DE)

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