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Deere (DE) Gains As Market Dips: What You Should Know
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In the latest trading session, Deere (DE - Free Report) closed at $369.32, marking a +0.67% move from the previous day. This change outpaced the S&P 500's 0.09% loss on the day.
Heading into today, shares of the agricultural equipment manufacturer had gained 4.98% over the past month, outpacing the Industrial Products sector's gain of 2.45% and the S&P 500's gain of 2.28% in that time.
Investors will be hoping for strength from DE as it approaches its next earnings release, which is expected to be August 20, 2021. On that day, DE is projected to report earnings of $4.46 per share, which would represent year-over-year growth of 73.54%. Our most recent consensus estimate is calling for quarterly revenue of $10.2 billion, up 29.77% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.98 per share and revenue of $39.55 billion, which would represent changes of +106.9% and +26.47%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for DE. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. DE currently has a Zacks Rank of #2 (Buy).
Digging into valuation, DE currently has a Forward P/E ratio of 20.4. This valuation marks a premium compared to its industry's average Forward P/E of 17.88.
We can also see that DE currently has a PEG ratio of 1.01. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.24 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 36, which puts it in the top 15% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Deere (DE) Gains As Market Dips: What You Should Know
In the latest trading session, Deere (DE - Free Report) closed at $369.32, marking a +0.67% move from the previous day. This change outpaced the S&P 500's 0.09% loss on the day.
Heading into today, shares of the agricultural equipment manufacturer had gained 4.98% over the past month, outpacing the Industrial Products sector's gain of 2.45% and the S&P 500's gain of 2.28% in that time.
Investors will be hoping for strength from DE as it approaches its next earnings release, which is expected to be August 20, 2021. On that day, DE is projected to report earnings of $4.46 per share, which would represent year-over-year growth of 73.54%. Our most recent consensus estimate is calling for quarterly revenue of $10.2 billion, up 29.77% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.98 per share and revenue of $39.55 billion, which would represent changes of +106.9% and +26.47%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for DE. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. DE currently has a Zacks Rank of #2 (Buy).
Digging into valuation, DE currently has a Forward P/E ratio of 20.4. This valuation marks a premium compared to its industry's average Forward P/E of 17.88.
We can also see that DE currently has a PEG ratio of 1.01. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.24 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 36, which puts it in the top 15% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.