Q3 2023 EPS Estimates for Deere & Company (NYSE:DE) Reduced by William Blair

Deere & Company (NYSE:DE – Get Rating) – Research analysts at William Blair reduced their Q3 2023 EPS estimates for Deere & Company in a research note issued to investors on Monday, May 22nd. William Blair analyst L. De. Maria now expects that the industrial products company will post earnings of $8.00 per share for the quarter, down from their prior estimate of $8.83. The consensus estimate for Deere & Company’s current full-year earnings is $31.58 per share. William Blair also issued estimates for Deere & Company’s FY2024 earnings at $34.00 EPS.

A number of other brokerages have also issued reports on DE. Oppenheimer dropped their target price on shares of Deere & Company from $492.00 to $436.00 in a research report on Monday. Argus boosted their target price on shares of Deere & Company from $475.00 to $485.00 and gave the stock a “buy” rating in a research report on Tuesday, February 21st. StockNews.com assumed coverage on shares of Deere & Company in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Citigroup dropped their target price on shares of Deere & Company from $505.00 to $460.00 in a research report on Tuesday. Finally, Morgan Stanley dropped their target price on shares of Deere & Company from $537.00 to $517.00 in a research report on Monday. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $443.86.

Deere & Company Trading Up 0.2 %

Shares of DE stock opened at $354.88 on Wednesday. Deere & Company has a 1 year low of $283.81 and a 1 year high of $448.40. The firm’s fifty day simple moving average is $382.18 and its 200 day simple moving average is $408.66. The firm has a market capitalization of $105.16 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 0.89 and a beta of 1.03. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE – Get Rating) last issued its quarterly earnings data on Friday, May 19th. The industrial products company reported $9.65 earnings per share for the quarter, topping analysts’ consensus estimates of $8.57 by $1.08. Deere & Company had a net margin of 15.00% and a return on equity of 43.11%. The business had revenue of $16.08 billion during the quarter, compared to analysts’ expectations of $14.87 billion. During the same period in the previous year, the company earned $6.81 earnings per share. Deere & Company’s revenue for the quarter was up 33.6% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Providence Capital Advisors LLC lifted its position in Deere & Company by 41,880.9% during the 1st quarter. Providence Capital Advisors LLC now owns 5,703,524 shares of the industrial products company’s stock valued at $13,814,000 after purchasing an additional 5,689,938 shares during the period. Moneta Group Investment Advisors LLC lifted its position in Deere & Company by 104,373.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock valued at $1,380,557,000 after purchasing an additional 3,216,801 shares during the period. Norges Bank acquired a new position in Deere & Company during the 4th quarter valued at about $1,326,177,000. Altshuler Shaham Ltd acquired a new position in Deere & Company during the 3rd quarter valued at about $337,686,000. Finally, Morgan Stanley lifted its position in Deere & Company by 13.8% during the 4th quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock valued at $1,962,085,000 after purchasing an additional 554,133 shares during the period. Institutional investors and hedge funds own 75.72% of the company’s stock.

Deere & Company Company Profile

(Get Rating)

Deere & Co engages in the manufacture 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 manufacture of a full line of agriculture and turf equipment and related service parts.