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Deere (DE) Gains As Market Dips: What You Should Know
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Deere (DE - Free Report) closed at $372.05 in the latest trading session, marking a +0.2% move from the prior day. This change outpaced the S&P 500's 1.94% loss on the day. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Coming into today, shares of the agricultural equipment manufacturer had gained 2.75% in the past month. In that same time, the Industrial Products sector gained 4.53%, while the S&P 500 gained 5.72%.
Investors will be hoping for strength from Deere as it approaches its next earnings release, which is expected to be February 18, 2022. In that report, analysts expect Deere to post earnings of $2.24 per share. This would mark a year-over-year decline of 42.12%. Meanwhile, our latest consensus estimate is calling for revenue of $8.09 billion, up 0.52% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $22.18 per share and revenue of $46.97 billion, which would represent changes of +16.8% and +18.21%, respectively, from the prior year.
Any recent changes to analyst estimates for Deere should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 0.44% lower. Deere is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Deere has a Forward P/E ratio of 16.74 right now. For comparison, its industry has an average Forward P/E of 15.99, which means Deere is trading at a premium to the group.
Meanwhile, DE's PEG ratio is currently 1.49. 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 1.23 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 52, which puts it in the top 21% 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.
To follow DE in the coming trading sessions, be sure to utilize Zacks.com.
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Deere (DE) Gains As Market Dips: What You Should Know
Deere (DE - Free Report) closed at $372.05 in the latest trading session, marking a +0.2% move from the prior day. This change outpaced the S&P 500's 1.94% loss on the day. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Coming into today, shares of the agricultural equipment manufacturer had gained 2.75% in the past month. In that same time, the Industrial Products sector gained 4.53%, while the S&P 500 gained 5.72%.
Investors will be hoping for strength from Deere as it approaches its next earnings release, which is expected to be February 18, 2022. In that report, analysts expect Deere to post earnings of $2.24 per share. This would mark a year-over-year decline of 42.12%. Meanwhile, our latest consensus estimate is calling for revenue of $8.09 billion, up 0.52% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $22.18 per share and revenue of $46.97 billion, which would represent changes of +16.8% and +18.21%, respectively, from the prior year.
Any recent changes to analyst estimates for Deere should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 0.44% lower. Deere is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Deere has a Forward P/E ratio of 16.74 right now. For comparison, its industry has an average Forward P/E of 15.99, which means Deere is trading at a premium to the group.
Meanwhile, DE's PEG ratio is currently 1.49. 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 1.23 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 52, which puts it in the top 21% 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.
To follow DE in the coming trading sessions, be sure to utilize Zacks.com.