Deere & Company (NYSE:DE) Announces Quarterly Earnings Results

Deere & Company (NYSE:DE) released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66, RTT News reports. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter last year, the business posted $8.26 EPS. The business’s revenue was down 32.8% on a year-over-year basis.

Deere & Company Stock Performance

Shares of NYSE DE traded down $3.68 during trading on Tuesday, reaching $459.27. 1,166,069 shares of the company traded hands, compared to its average volume of 1,505,819. The firm has a 50 day simple moving average of $415.29 and a 200-day simple moving average of $389.04. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The stock has a market capitalization of $125.66 billion, a PE ratio of 17.94, a P/E/G ratio of 1.98 and a beta of 0.96. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.41%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is currently 22.97%.

Analysts Set New Price Targets

A number of research firms recently issued reports on DE. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Oppenheimer upped their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Bank of America raised their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, Truist Financial boosted their target price on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $436.41.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.