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Deere (DE) Dips More Than Broader Markets: What You Should Know
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Deere (DE - Free Report) closed the most recent trading day at $430.18, moving -1.37% from the previous trading session. This move lagged the S&P 500's daily loss of 1.2%. Meanwhile, the Dow lost 1.1%, and the Nasdaq, a tech-heavy index, lost 2.86%.
Prior to today's trading, shares of the agricultural equipment manufacturer had lost 1.09% over the past month. This has was narrower than the Industrial Products sector's loss of 2.62% and the S&P 500's loss of 4.77% in that time.
Wall Street will be looking for positivity from Deere as it approaches its next earnings report date. The company is expected to report EPS of $5.48, up 87.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $11.42 billion, up 33.92% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $27.83 per share and revenue of $54.28 billion. These totals would mark changes of +19.54% and +13.29%, respectively, from last year.
Any recent changes to analyst estimates for Deere should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.84% higher. Deere is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Deere is holding a Forward P/E ratio of 15.67. This valuation marks a premium compared to its industry's average Forward P/E of 13.89.
It is also worth noting that DE currently has a PEG ratio of 1.31. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Manufacturing - Farm Equipment was holding an average PEG ratio of 1.31 at yesterday's closing price.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Deere (DE) Dips More Than Broader Markets: What You Should Know
Deere (DE - Free Report) closed the most recent trading day at $430.18, moving -1.37% from the previous trading session. This move lagged the S&P 500's daily loss of 1.2%. Meanwhile, the Dow lost 1.1%, and the Nasdaq, a tech-heavy index, lost 2.86%.
Prior to today's trading, shares of the agricultural equipment manufacturer had lost 1.09% over the past month. This has was narrower than the Industrial Products sector's loss of 2.62% and the S&P 500's loss of 4.77% in that time.
Wall Street will be looking for positivity from Deere as it approaches its next earnings report date. The company is expected to report EPS of $5.48, up 87.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $11.42 billion, up 33.92% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $27.83 per share and revenue of $54.28 billion. These totals would mark changes of +19.54% and +13.29%, respectively, from last year.
Any recent changes to analyst estimates for Deere should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.84% higher. Deere is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Deere is holding a Forward P/E ratio of 15.67. This valuation marks a premium compared to its industry's average Forward P/E of 13.89.
It is also worth noting that DE currently has a PEG ratio of 1.31. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Manufacturing - Farm Equipment was holding an average PEG ratio of 1.31 at yesterday's closing price.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.