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Deere (DE) Gains As Market Dips: What You Should Know
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Deere (DE - Free Report) closed the most recent trading day at $395.35, moving +0.6% from the previous trading session. This change outpaced the S&P 500's 0.16% loss on the day. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 3.64%.
Heading into today, shares of the agricultural equipment manufacturer had lost 6.79% over the past month, lagging the Industrial Products sector's loss of 5.06% and the S&P 500's gain of 0.07% in that time.
Deere will be looking to display strength as it nears its next earnings release. On that day, Deere is projected to report earnings of $8.50 per share, which would represent year-over-year growth of 24.82%. Our most recent consensus estimate is calling for quarterly revenue of $14.78 billion, up 22.84% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $30.47 per share and revenue of $54.5 billion. These totals would mark changes of +30.88% and +13.74%, respectively, from last year.
Any recent changes to analyst estimates for Deere should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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.
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. The Zacks Consensus EPS estimate has moved 1.15% higher within the past month. Deere is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Deere is holding a Forward P/E ratio of 12.9. This valuation marks a premium compared to its industry's average Forward P/E of 12.59.
It is also worth noting that DE currently has a PEG ratio of 1.05. 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. DE's industry had an average PEG ratio of 1.05 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 16, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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
Deere (DE - Free Report) closed the most recent trading day at $395.35, moving +0.6% from the previous trading session. This change outpaced the S&P 500's 0.16% loss on the day. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 3.64%.
Heading into today, shares of the agricultural equipment manufacturer had lost 6.79% over the past month, lagging the Industrial Products sector's loss of 5.06% and the S&P 500's gain of 0.07% in that time.
Deere will be looking to display strength as it nears its next earnings release. On that day, Deere is projected to report earnings of $8.50 per share, which would represent year-over-year growth of 24.82%. Our most recent consensus estimate is calling for quarterly revenue of $14.78 billion, up 22.84% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $30.47 per share and revenue of $54.5 billion. These totals would mark changes of +30.88% and +13.74%, respectively, from last year.
Any recent changes to analyst estimates for Deere should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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.
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. The Zacks Consensus EPS estimate has moved 1.15% higher within the past month. Deere is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Deere is holding a Forward P/E ratio of 12.9. This valuation marks a premium compared to its industry's average Forward P/E of 12.59.
It is also worth noting that DE currently has a PEG ratio of 1.05. 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. DE's industry had an average PEG ratio of 1.05 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 16, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.