$10.54 Billion in Sales Expected for Deere & Company (NYSE:DE) This Quarter


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Brokerages expect Deere & Company (NYSE:DE) to post $10.54 billion in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Deere & Company’s earnings, with the lowest sales estimate coming in at $10.05 billion and the highest estimate coming in at $11.34 billion. Deere & Company posted sales of $8.22 billion in the same quarter last year, which suggests a positive year over year growth rate of 28.2%. The business is scheduled to issue its next quarterly earnings report before the market opens on Friday, May 21st.

According to Zacks, analysts expect that Deere & Company will report full year sales of $38.51 billion for the current year, with estimates ranging from $37.28 billion to $42.09 billion. For the next fiscal year, analysts forecast that the company will post sales of $41.88 billion, with estimates ranging from $38.85 billion to $46.40 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Deere & Company.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, February 18th. The industrial products company reported $3.87 earnings per share for the quarter, beating the consensus estimate of $2.17 by $1.70. The business had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Deere & Company had a net margin of 7.74% and a return on equity of 22.17%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS.

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Deere & Company from $360.00 to $402.00 and gave the company a “hold” rating in a research note on Monday, April 19th. Jefferies Financial Group increased their target price on shares of Deere & Company from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, January 15th. Citigroup boosted their price target on shares of Deere & Company from $325.00 to $375.00 and gave the company a “neutral” rating in a research note on Wednesday, March 10th. Wolfe Research initiated coverage on shares of Deere & Company in a report on Monday, April 19th. They issued an “outperform” rating and a $425.00 price objective on the stock. Finally, Vertical Research began coverage on shares of Deere & Company in a report on Wednesday, January 20th. They issued a “buy” rating and a $345.00 target price for the company. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $327.95.

Deere & Company stock traded up $5.81 during mid-day trading on Thursday, hitting $379.58. The company’s stock had a trading volume of 1,659,713 shares, compared to its average volume of 1,723,156. The stock’s fifty day moving average is $374.56 and its two-hundred day moving average is $305.50. The company has a current ratio of 2.24, a quick ratio of 2.03 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $118.98 billion, a PE ratio of 42.96, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96. Deere & Company has a 1 year low of $117.85 and a 1 year high of $392.42.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 10th. Investors of record on Wednesday, March 31st will be paid a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $3.60 dividend on an annualized basis and a yield of 0.95%. This is an increase from Deere & Company’s previous quarterly dividend of $0.76. Deere & Company’s payout ratio is currently 41.43%.

Large investors have recently made changes to their positions in the business. Klaas Financial Asset Advisors LLC purchased a new position in Deere & Company in the fourth quarter valued at $26,000. Grant Street Asset Management Inc. acquired a new position in shares of Deere & Company during the 4th quarter worth about $27,000. Brand Asset Management Group Inc. purchased a new position in shares of Deere & Company in the 1st quarter valued at about $27,000. Leelyn Smith LLC raised its position in shares of Deere & Company by 2,500.0% during the 4th quarter. Leelyn Smith LLC now owns 104 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Finally, Syverson Strege & Co acquired a new stake in shares of Deere & Company during the 4th quarter worth about $28,000. 66.77% of the stock is currently owned by institutional investors.

About Deere & Company

Deere & Company, together with its subsidiaries, manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment provides various agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

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

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