$9.98 Billion in Sales Expected for Deere & Company (NYSE:DE) This Quarter


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Equities research analysts expect Deere & Company (NYSE:DE) to report sales of $9.98 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Deere & Company’s earnings, with the highest sales estimate coming in at $10.62 billion and the lowest estimate coming in at $9.42 billion. Deere & Company reported sales of $8.22 billion during the same quarter last year, which would suggest a positive year over year growth rate of 21.4%. The business is expected to issue its next quarterly earnings results on Friday, May 28th.

On average, analysts expect that Deere & Company will report full-year sales of $36.71 billion for the current fiscal year, with estimates ranging from $34.72 billion to $38.92 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $39.61 billion, with estimates ranging from $38.42 billion to $41.39 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Deere & Company.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 18th. The industrial products company reported $3.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.17 by $1.70. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.12 billion. Deere & Company had a net margin of 7.74% and a return on equity of 22.17%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share.

Several brokerages have commented on DE. Morgan Stanley increased their price target on shares of Deere & Company from $335.00 to $341.00 and gave the company an “overweight” rating in a research note on Tuesday, December 15th. Bank of America increased their price objective on Deere & Company from $260.00 to $285.00 and gave the company a “buy” rating in a report on Monday, November 16th. Argus increased their price objective on Deere & Company from $280.00 to $380.00 and gave the company a “buy” rating in a report on Tuesday. Robert W. Baird increased their price objective on Deere & Company from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Tuesday, January 12th. Finally, Credit Suisse Group increased their price objective on Deere & Company from $343.00 to $403.00 and gave the company an “outperform” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $309.80.

Deere & Company stock traded down $2.60 during mid-day trading on Thursday, hitting $334.91. The company had a trading volume of 78,987 shares, compared to its average volume of 1,794,601. The stock has a market cap of $105.30 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 1.43 and a beta of 0.96. Deere & Company has a 1 year low of $106.14 and a 1 year high of $338.55. The company has a quick ratio of 2.03, a current ratio of 2.24 and a debt-to-equity ratio of 2.53. The business has a fifty day moving average of $302.15 and a 200 day moving average of $251.20.

The company also recently declared a quarterly dividend, which was paid on Monday, February 8th. Stockholders of record on Thursday, December 31st were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Wednesday, December 30th. Deere & Company’s dividend payout ratio is currently 34.98%.

In related news, insider Rajesh Kalathur sold 44,169 shares of Deere & Company stock in a transaction dated Wednesday, December 2nd. The stock was sold at an average price of $257.43, for a total transaction of $11,370,425.67. Following the completion of the sale, the insider now owns 75,454 shares in the company, valued at approximately $19,424,123.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mary K.W. Jones sold 27,800 shares of Deere & Company stock in a transaction dated Wednesday, November 25th. The stock was sold at an average price of $257.43, for a total value of $7,156,554.00. Following the sale, the senior vice president now owns 87,055 shares of the company’s stock, valued at approximately $22,410,568.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,468 shares of company stock valued at $31,836,175. Company insiders own 0.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of DE. FMR LLC grew its holdings in Deere & Company by 37.8% in the 4th quarter. FMR LLC now owns 4,701,751 shares of the industrial products company’s stock valued at $1,265,007,000 after buying an additional 1,289,219 shares during the period. BlackRock Inc. grew its holdings in Deere & Company by 3.4% in the 3rd quarter. BlackRock Inc. now owns 19,774,107 shares of the industrial products company’s stock valued at $4,382,536,000 after buying an additional 646,460 shares during the period. Wells Fargo & Company MN grew its holdings in Deere & Company by 62.5% in the 4th quarter. Wells Fargo & Company MN now owns 1,204,272 shares of the industrial products company’s stock valued at $324,010,000 after buying an additional 463,298 shares during the period. AMF Pensionsforsakring AB grew its holdings in Deere & Company by 238.9% in the 4th quarter. AMF Pensionsforsakring AB now owns 606,752 shares of the industrial products company’s stock valued at $163,314,000 after buying an additional 427,694 shares during the period. Finally, Artemis Investment Management LLP purchased a new stake in Deere & Company in the 3rd quarter valued at about $85,861,000. Institutional investors own 66.77% of the company’s stock.

About Deere & Company

Deere & Company, together with its subsidiaries, 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 provides various agriculture and turf equipment, and related service 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; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

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