Deere & Company (NYSE:DE) Announces Earnings Results, Beats Expectations By $0.49 EPS

Deere & Company (NYSE:DE) released its earnings results on Friday. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.49, MarketWatch Earnings reports. Deere & Company had a net margin of 8.41% and a return on equity of 26.92%. The firm had revenue of $8.22 billion during the quarter, compared to the consensus estimate of $7.68 billion. During the same period in the previous year, the firm earned $3.52 earnings per share. Deere & Company’s revenue was down 19.9% compared to the same quarter last year.

DE traded down $2.10 on Friday, reaching $140.71. The company had a trading volume of 3,426,656 shares, compared to its average volume of 1,765,039. The company has a fifty day moving average of $137.27 and a 200-day moving average of $157.92. The company has a market capitalization of $44.79 billion, a P/E ratio of 13.75, a PEG ratio of 3.35 and a beta of 0.93. The company has a current ratio of 2.12, a quick ratio of 1.84 and a debt-to-equity ratio of 2.55. Deere & Company has a one year low of $106.14 and a one year high of $181.99.

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Tuesday, March 31st were given a $0.76 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $3.04 dividend on an annualized basis and a yield of 2.16%. Deere & Company’s dividend payout ratio is presently 30.58%.

A number of equities research analysts recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Deere & Company from $205.00 to $171.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Bank of America upgraded shares of Deere & Company from an “underperform” rating to a “buy” rating in a research note on Monday, March 2nd. Citigroup decreased their price objective on shares of Deere & Company from $155.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday. Credit Suisse Group boosted their price objective on shares of Deere & Company from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, February 24th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $150.00 price objective on shares of Deere & Company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $168.04.

Deere & Company Company Profile

Deere & Company 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 offers agriculture and turf equipment, and related 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; and tillage, seeding, and application equipment.

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Earnings History for Deere & Company (NYSE:DE)

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