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

Deere & Company (NYSE:DE) issued its quarterly earnings results on Tuesday. The industrial products company reported $4.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.90 by $0.22, MarketWatch Earnings reports. The business had revenue of $10.28 billion for 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 firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.39 earnings per share.

NYSE:DE traded up $18.58 during midday trading on Thursday, hitting $367.86. The company had a trading volume of 4,482,294 shares, compared to its average volume of 1,719,397. Deere & Company has a 52-week low of $250.54 and a 52-week high of $400.34. The stock’s fifty day moving average price is $346.69 and its 200-day moving average price is $355.58. The company has a market capitalization of $114.06 billion, a PE ratio of 21.31, a P/E/G ratio of 0.74 and a beta of 1.08. The company has a quick ratio of 1.93, a current ratio of 2.17 and a debt-to-equity ratio of 2.05.

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

A number of brokerages recently issued reports on DE. Evercore ISI downgraded Deere & Company from an “outperform” rating to an “inline” rating and reduced their price target for the stock from $470.00 to $354.00 in a research report on Thursday, October 14th. Zacks Investment Research downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $375.00 target price on the stock. in a report on Friday, November 19th. Deutsche Bank Aktiengesellschaft reduced 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. 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. Finally, JPMorgan Chase & Co. reduced 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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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