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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 $418.51, marking a +0.05% move from the previous day. This change outpaced the S&P 500's 1.69% loss on the day. At the same time, the Dow lost 1.19%, and the tech-heavy Nasdaq gained 0.14%.
Heading into today, shares of the agricultural equipment manufacturer had gained 7.4% over the past month, outpacing the Industrial Products sector's gain of 3.27% and lagging the S&P 500's gain of 7.88% in that time.
Investors will be hoping for strength from Deere as it approaches its next earnings release. On that day, Deere is projected to report earnings of $6.68 per share, which would represent year-over-year growth of 17.61%. Meanwhile, our latest consensus estimate is calling for revenue of $13.47 billion, up 22.48% from the prior-year quarter.
DE's full-year Zacks Consensus Estimates are calling for earnings of $22.76 per share and revenue of $47.68 billion. These results would represent year-over-year changes of +19.85% and +19.98%, respectively.
Investors should also note any recent changes to analyst estimates for Deere. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.39% higher. Deere is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Deere has a Forward P/E ratio of 18.38 right now. This represents a premium compared to its industry's average Forward P/E of 16.3.
Also, we should mention that DE has a PEG ratio of 1.36. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.36 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 49, which puts it in the top 20% 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.
Be sure to follow all of these stock-moving metrics, and many 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 $418.51, marking a +0.05% move from the previous day. This change outpaced the S&P 500's 1.69% loss on the day. At the same time, the Dow lost 1.19%, and the tech-heavy Nasdaq gained 0.14%.
Heading into today, shares of the agricultural equipment manufacturer had gained 7.4% over the past month, outpacing the Industrial Products sector's gain of 3.27% and lagging the S&P 500's gain of 7.88% in that time.
Investors will be hoping for strength from Deere as it approaches its next earnings release. On that day, Deere is projected to report earnings of $6.68 per share, which would represent year-over-year growth of 17.61%. Meanwhile, our latest consensus estimate is calling for revenue of $13.47 billion, up 22.48% from the prior-year quarter.
DE's full-year Zacks Consensus Estimates are calling for earnings of $22.76 per share and revenue of $47.68 billion. These results would represent year-over-year changes of +19.85% and +19.98%, respectively.
Investors should also note any recent changes to analyst estimates for Deere. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.39% higher. Deere is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Deere has a Forward P/E ratio of 18.38 right now. This represents a premium compared to its industry's average Forward P/E of 16.3.
Also, we should mention that DE has a PEG ratio of 1.36. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.36 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 49, which puts it in the top 20% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.