Deere & Company (NYSE:DE) Releases Earnings Results, Beats Estimates By $0.35 EPS

Deere & Company (NYSE:DE) issued its earnings results on Friday. The industrial products company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.35, RTT News reports. The firm had revenue of $6.53 billion during the quarter, compared to the consensus estimate of $6.17 billion. Deere & Company had a net margin of 8.29% and a return on equity of 27.11%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share.

Shares of DE opened at $177.43 on Friday. Deere & Company has a 1-year low of $132.68 and a 1-year high of $181.99. The stock has a market cap of $52.20 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 3.93 and a beta of 1.14. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.04 and a quick ratio of 1.80. The firm has a fifty day moving average price of $169.83 and a 200 day moving average price of $167.19.

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a $0.76 dividend. The ex-dividend date was Monday, December 30th. This represents a $3.04 dividend on an annualized basis and a yield of 1.71%. Deere & Company’s dividend payout ratio (DPR) is presently 30.58%.

A number of equities analysts recently commented on the stock. BMO Capital Markets boosted their target price on shares of Deere & Company from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Bank of America downgraded shares of Deere & Company from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $200.00 to $150.00 in a research note on Monday, December 2nd. Wells Fargo & Co boosted their target price on shares of Deere & Company from $177.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. DZ Bank downgraded shares of Deere & Company from a “hold” rating to a “sell” rating and set a $148.00 target price for the company. in a research note on Friday, November 29th. Finally, Argus reiterated a “positive” rating and set a $185.00 target price on shares of Deere & Company in a research note on Tuesday, December 3rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. Deere & Company currently has a consensus rating of “Hold” and an average price target of $172.28.

In other news, insider Rajesh Kalathur sold 12,151 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $164.32, for a total value of $1,996,652.32. Following the completion of the sale, the insider now directly owns 55,178 shares of the company’s stock, valued at $9,066,848.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John C. May II sold 8,112 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $174.11, for a total transaction of $1,412,380.32. Following the completion of the sale, the chief executive officer now directly owns 49,157 shares of the company’s stock, valued at $8,558,725.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,250 shares of company stock valued at $6,046,457. 0.70% of the stock is owned by corporate insiders.

About Deere & Company

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Earnings History for Deere & Company (NYSE:DE)

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