Equities analysts predict that Deere & Company (NYSE:DE) will post $8.59 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for Deere & Company’s earnings, with the lowest sales estimate coming in at $8.54 billion and the highest estimate coming in at $8.66 billion. Deere & Company reported sales of $7.09 billion in the same quarter last year, which would suggest a positive year over year growth rate of 21.2%. The company is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, November 21st.
According to Zacks, analysts expect that Deere & Company will report full-year sales of $33.69 billion for the current financial year, with estimates ranging from $33.55 billion to $33.85 billion. For the next financial year, analysts forecast that the firm will post sales of $36.15 billion, with estimates ranging from $35.48 billion to $36.88 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Deere & Company.
Deere & Company (NYSE:DE) last released its quarterly earnings results on Friday, August 17th. The industrial products company reported $2.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.16). Deere & Company had a return on equity of 28.51% and a net margin of 5.82%. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.18 billion. During the same period in the previous year, the business posted $1.97 EPS. The firm’s quarterly revenue was up 35.9% compared to the same quarter last year.
A number of institutional investors have recently modified their holdings of DE. Mount Yale Investment Advisors LLC purchased a new position in Deere & Company in the 1st quarter worth about $100,000. Kaizen Advisory LLC grew its position in Deere & Company by 158.4% in the second quarter. Kaizen Advisory LLC now owns 796 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 488 shares during the period. Clarus Wealth Advisors bought a new stake in Deere & Company in the second quarter valued at $118,000. Amussen Hunsaker Associates LLC bought a new stake in Deere & Company in the second quarter valued at $122,000. Finally, Sun Life Financial INC grew its position in Deere & Company by 283.8% in the second quarter. Sun Life Financial INC now owns 879 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 650 shares during the period. Hedge funds and other institutional investors own 66.75% of the company’s stock.
Shares of DE stock traded down $3.78 during mid-day trading on Tuesday, reaching $133.00. 4,771,135 shares of the company were exchanged, compared to its average volume of 2,527,610. Deere & Company has a fifty-two week low of $130.77 and a fifty-two week high of $175.26. The company has a current ratio of 1.91, a quick ratio of 1.66 and a debt-to-equity ratio of 2.59. The company has a market capitalization of $42.78 billion, a P/E ratio of 19.91, a PEG ratio of 2.47 and a beta of 0.87.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, September 28th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.08%. The ex-dividend date is Thursday, September 27th. Deere & Company’s dividend payout ratio (DPR) is presently 41.32%.
Deere & Company Company Profile
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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