Deere & Company (NYSE:DE) Announces Quarterly Earnings Results

Deere & Company (NYSE:DE) announced its quarterly earnings data on Thursday. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.90 by $0.65, RTT News reports. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the prior year, the firm posted $8.26 earnings per share. Deere & Company’s revenue for the quarter was down 32.8% compared to the same quarter last year.

Deere & Company Stock Performance

Shares of NYSE DE opened at $446.65 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $122.20 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93. The stock’s fifty day simple moving average is $406.99 and its 200 day simple moving average is $386.49. Deere & Company has a 52-week low of $340.20 and a 52-week high of $447.50.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s payout ratio is 22.97%.

Analysts Set New Price Targets

Several brokerages recently issued reports on DE. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Morgan Stanley cut their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Evercore ISI raised their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. UBS Group raised their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price target on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a report on Friday. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $431.61.

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.