Deere & Company (NYSE:DE) Issues Earnings Results

Deere & Company (NYSE:DE) issued its earnings results on Tuesday. The industrial products company reported $4.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.90 by $0.22, MarketWatch Earnings reports. Deere & Company had a net margin of 12.82% and a return on equity of 37.60%. The company had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.48 billion. During the same period last year, the company posted $2.39 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year.

NYSE DE traded up $18.58 during mid-day trading on Thursday, reaching $367.86. 4,482,294 shares of the stock were exchanged, compared to its average volume of 1,719,397. Deere & Company has a 1-year low of $250.54 and a 1-year high of $400.34. The business’s fifty day simple moving average is $346.94 and its 200 day simple moving average is $355.66. The stock has a market capitalization of $114.06 billion, a PE ratio of 21.31, a PEG ratio of 0.74 and a beta of 1.08. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.93 and a current ratio of 2.17.

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

An institutional investor recently raised its position in Deere & Company stock. Morgan Stanley raised its stake in Deere & Company (NYSE:DE) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,479,850 shares of the industrial products company’s stock after purchasing an additional 133,091 shares during the quarter. Morgan Stanley owned about 0.79% of Deere & Company worth $874,668,000 at the end of the most recent quarter. 75.35% of the stock is currently owned by institutional investors.

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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