Deere & Company (NYSE:DE) Posts Earnings Results, Beats Estimates By $0.65 EPS

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

Deere & Company Trading Up 2.1 %

NYSE:DE opened at $446.65 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $447.50. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.87 and a current ratio of 2.09. The stock has a fifty day moving average price of $406.99 and a two-hundred day moving average price of $386.36. 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.

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DE shares. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial raised their target price on Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Morgan Stanley dropped their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.