Zacks Research Boosts Earnings Estimates for Deere & Company

Deere & Company (NYSE:DE) – Analysts at Zacks Research increased their FY2027 earnings per share estimates for Deere & Company in a research report issued to clients and investors on Tuesday, January 28th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $23.41 for the year, up from their previous estimate of $23.34. The consensus estimate for Deere & Company’s current full-year earnings is $19.34 per share.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter last year, the business posted $8.26 EPS.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. UBS Group increased their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays raised their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Citigroup reduced their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $444.50.

Deere & Company Stock Performance

Shares of DE opened at $479.91 on Thursday. The company’s 50 day simple moving average is $443.22 and its 200-day simple moving average is $408.60. The firm has a market cap of $130.70 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Hedge Funds Weigh In On Deere & Company

Several hedge funds have recently bought and sold shares of the company. EP Wealth Advisors LLC increased its position in shares of Deere & Company by 76.1% in the second quarter. EP Wealth Advisors LLC now owns 5,069 shares of the industrial products company’s stock valued at $1,894,000 after buying an additional 2,190 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Deere & Company by 4.9% during the 2nd quarter. Clearbridge Investments LLC now owns 234,952 shares of the industrial products company’s stock valued at $87,785,000 after acquiring an additional 10,899 shares in the last quarter. Centennial Bank AR raised its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the last quarter. Creekside Partners purchased a new stake in shares of Deere & Company in the second quarter valued at about $422,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Deere & Company in the second quarter valued at approximately $22,367,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 25.31%.

Deere & Company Company Profile

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.