Deere & Company (DE) to Release Quarterly Earnings on Thursday

Deere & Company (NYSE:DE) is scheduled to be releasing its earnings data before the market opens on Thursday, August 15th. Analysts expect Deere & Company to post earnings of $5.94 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s revenue 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. On average, analysts expect Deere & Company to post $25 EPS for the current fiscal year and $24 EPS for the next fiscal year.

Deere & Company Stock Up 1.6 %

Shares of Deere & Company stock opened at $350.59 on Wednesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $438.39. The company has a market capitalization of $96.61 billion, a PE ratio of 10.55, a P/E/G ratio of 1.59 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The business has a 50-day moving average of $367.63 and a 200-day moving average of $380.96.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on DE. Raymond James started coverage on Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. TD Cowen raised their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Morgan Stanley boosted their target price on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $424.03.

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.