Deere & Company (NYSE:DE) Releases Quarterly Earnings Results, Beats Expectations By $0.22 EPS

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.

An institutional investor recently raised its position in Deere & Company stock. Morgan Stanley boosted its position in shares of Deere & Company (NYSE:DE) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,479,850 shares of the industrial products company’s stock after purchasing an additional 133,091 shares during the period. Morgan Stanley owned approximately 0.79% of Deere & Company worth $874,668,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 75.35% of the company’s stock.

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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Earnings History for Deere & Company (NYSE:DE)

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