Deere & Company (NYSE:DE) released its quarterly earnings results on Tuesday. The industrial products company reported $4.12 EPS for the quarter, beating the consensus estimate of $3.90 by $0.22, MarketWatch Earnings reports. The business had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.48 billion. Deere & Company had a net margin of 12.82% and a return on equity of 37.60%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.39 earnings per share.
Shares of Deere & Company stock traded up $18.58 during trading hours on Thursday, hitting $367.86. The company’s stock had a trading volume of 4,482,294 shares, compared to its average volume of 1,719,397. Deere & Company has a 1-year low of $250.54 and a 1-year high of $400.34. The business has a fifty day moving average of $346.69 and a 200 day moving average of $355.58. The company has a market capitalization of $114.06 billion, a PE ratio of 21.31, a P/E/G ratio of 0.74 and a beta of 1.08. The company has a quick ratio of 1.93, a current ratio of 2.17 and a debt-to-equity ratio of 2.05.
DE has been the topic of several research reports. Credit Suisse Group increased their price target on shares of Deere & Company from $439.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, August 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $383.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, November 17th. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $346.00 to $297.00 and set an “underweight” rating on the stock in a research note on Monday, October 4th. Zacks Investment Research downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $375.00 price objective on the stock. in a research note on Friday, November 19th. Finally, Evercore ISI downgraded shares of Deere & Company from an “outperform” rating to an “inline” rating and reduced their price objective for the company from $470.00 to $354.00 in a research note on Thursday, October 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Deere & Company has a consensus rating of “Buy” and an average target price of $382.63.
Deere & Company Company Profile
Deere & Co engages in the manufacturing 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 manufacturing of full line of agriculture and turf equipment and related service parts.
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