Deere & Company (NYSE:DE – Get Rating) – Zacks Research reduced their Q2 2023 earnings estimates for shares of Deere & Company in a research report issued to clients and investors on Thursday, May 4th. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $8.18 per share for the quarter, down from their prior estimate of $8.22. The consensus estimate for Deere & Company’s current full-year earnings is $30.59 per share. Zacks Research also issued estimates for Deere & Company’s Q2 2024 earnings at $6.94 EPS, Q1 2025 earnings at $5.10 EPS and Q2 2025 earnings at $6.10 EPS.
DE has been the subject of a number of other research reports. Bank of America lifted their target price on Deere & Company from $478.00 to $484.00 in a report on Monday, February 20th. DA Davidson reissued a “buy” rating and issued a $520.00 price objective on shares of Deere & Company in a report on Tuesday, February 21st. Daiwa Capital Markets began coverage on Deere & Company in a research note on Wednesday, March 29th. They set an “outperform” rating and a $440.00 target price for the company. Sanford C. Bernstein boosted their target price on Deere & Company from $364.00 to $398.00 and gave the company a “market perform” rating in a report on Tuesday, February 21st. Finally, StockNews.com raised Deere & Company from a “hold” rating to a “buy” rating in a research note on Tuesday, April 18th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $459.86.
Deere & Company Stock Up 2.0 %
NYSE DE opened at $381.09 on Monday. The stock’s 50-day moving average price is $394.70 and its 200-day moving average price is $411.00. The company has a quick ratio of 1.76, a current ratio of 2.07 and a debt-to-equity ratio of 1.64. Deere & Company has a 52 week low of $283.81 and a 52 week high of $448.40. The company has a market capitalization of $112.92 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 0.99 and a beta of 1.03.
Deere & Company (NYSE:DE – Get Rating) last announced its earnings results on Friday, February 17th. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $1.02. Deere & Company had a return on equity of 41.17% and a net margin of 14.71%. The company had revenue of $11.40 billion during the quarter, compared to the consensus estimate of $11.14 billion. During the same quarter in the prior year, the company earned $2.92 earnings per share. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis.
Institutional Investors Weigh In On Deere & Company
Institutional investors have recently added to or reduced their stakes in the business. Paragon Wealth Strategies LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth about $26,000. Worth Asset Management LLC purchased a new position in Deere & Company during the first quarter worth about $28,000. Riggs Asset Managment Co. Inc. increased its stake in Deere & Company by 411.8% during the third quarter. Riggs Asset Managment Co. Inc. now owns 87 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 70 shares during the last quarter. Lansing Street Advisors increased its stake in Deere & Company by 1,725.0% during the first quarter. Lansing Street Advisors now owns 73 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 69 shares during the last quarter. Finally, Bell Investment Advisors Inc grew its stake in shares of Deere & Company by 64.3% in the third quarter. Bell Investment Advisors Inc now owns 92 shares of the industrial products company’s stock valued at $31,000 after buying an additional 36 shares in the last quarter. Institutional investors and hedge funds own 75.72% of the company’s stock.
Deere & Company Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 8th. Shareholders of record on Friday, March 31st will be paid a $1.25 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.20. The ex-dividend date is Thursday, March 30th. This represents a $5.00 dividend on an annualized basis and a yield of 1.31%. Deere & Company’s dividend payout ratio (DPR) is presently 18.55%.
About Deere & Company
Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.