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Deere (DE) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Deere (DE - Free Report) closed at $381.23, marking a +0.97% move from the previous day. This change outpaced the S&P 500's 0.57% gain on the day. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, added 0.11%.
Heading into today, shares of the agricultural equipment manufacturer had lost 9.42% over the past month, outpacing the Industrial Products sector's loss of 9.56% and the S&P 500's loss of 10.81% in that time.
Wall Street will be looking for positivity from Deere as it approaches its next earnings report date. This is expected to be May 20, 2022. The company is expected to report EPS of $6.65, up 17.08% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $13.44 billion, up 22.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $22.69 per share and revenue of $48.18 billion, which would represent changes of +19.48% and +21.24%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Deere. Recent revisions tend to reflect the latest 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.29% lower. Deere is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Deere currently has a Forward P/E ratio of 16.64. For comparison, its industry has an average Forward P/E of 15.36, which means Deere is trading at a premium to the group.
Investors should also note that DE has a PEG ratio of 1.23 right now. 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. Manufacturing - Farm Equipment stocks are, on average, holding a PEG ratio of 1.23 based on yesterday's closing prices.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Deere (DE - Free Report) closed at $381.23, marking a +0.97% move from the previous day. This change outpaced the S&P 500's 0.57% gain on the day. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, added 0.11%.
Heading into today, shares of the agricultural equipment manufacturer had lost 9.42% over the past month, outpacing the Industrial Products sector's loss of 9.56% and the S&P 500's loss of 10.81% in that time.
Wall Street will be looking for positivity from Deere as it approaches its next earnings report date. This is expected to be May 20, 2022. The company is expected to report EPS of $6.65, up 17.08% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $13.44 billion, up 22.22% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $22.69 per share and revenue of $48.18 billion, which would represent changes of +19.48% and +21.24%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Deere. Recent revisions tend to reflect the latest 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.29% lower. Deere is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Deere currently has a Forward P/E ratio of 16.64. For comparison, its industry has an average Forward P/E of 15.36, which means Deere is trading at a premium to the group.
Investors should also note that DE has a PEG ratio of 1.23 right now. 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. Manufacturing - Farm Equipment stocks are, on average, holding a PEG ratio of 1.23 based on yesterday's closing prices.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.