Research Analysts Set Expectations for Deere & Company’s Q3 2024 Earnings (NYSE:DE)

Deere & Company (NYSE:DE) – Equities researchers at DA Davidson issued their Q3 2024 earnings per share estimates for Deere & Company in a research report issued on Monday, May 20th. DA Davidson analyst M. Shlisky anticipates that the industrial products company will post earnings of $5.32 per share for the quarter. DA Davidson has a “Buy” rating and a $465.00 price objective on the stock. The consensus estimate for Deere & Company’s current full-year earnings is $26.61 per share.

A number of other analysts have also commented on the company. Truist Financial started coverage on Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price for the company. Stifel Nicolaus upped their target price on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Wells Fargo & Company lowered their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Finally, Evercore ISI lifted their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $432.92.

Deere & Company Trading Down 0.2 %

NYSE:DE opened at $385.87 on Tuesday. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $107.41 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.51 and a beta of 1.04. The firm has a fifty day simple moving average of $399.95 and a two-hundred day simple moving average of $386.47.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating the consensus estimate of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. Deere & Company’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.65 EPS.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th were given a $1.47 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.52%. Deere & Company’s dividend payout ratio is currently 17.70%.

Hedge Funds Weigh In On Deere & Company

A number of hedge funds and other institutional investors have recently made changes to their positions in DE. Atria Investments Inc lifted its stake in Deere & Company by 4.6% in the first quarter. Atria Investments Inc now owns 17,181 shares of the industrial products company’s stock valued at $7,050,000 after purchasing an additional 763 shares during the last quarter. Swedbank AB bought a new stake in shares of Deere & Company in the first quarter valued at $191,628,000. Sanibel Captiva Trust Company Inc. lifted its position in shares of Deere & Company by 2.5% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 9,119 shares of the industrial products company’s stock valued at $3,746,000 after buying an additional 221 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Deere & Company during the 1st quarter valued at $901,000. Finally, Bluefin Capital Management LLC grew its stake in shares of Deere & Company by 938.2% during the 1st quarter. Bluefin Capital Management LLC now owns 35,300 shares of the industrial products company’s stock worth $14,499,000 after acquiring an additional 31,900 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Company Profile

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.