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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 $384.39, marking a +0.93% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Coming into today, shares of the agricultural equipment manufacturer had lost 5.37% in the past month. In that same time, the Industrial Products sector lost 1.33%, while the S&P 500 gained 6.51%.
Investors will be hoping for strength from Deere as it approaches its next earnings release. In that report, analysts expect Deere to post earnings of $8.50 per share. This would mark year-over-year growth of 24.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
It is also important to note the recent changes to analyst estimates for Deere. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Deere is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Deere currently has a Forward P/E ratio of 12.5. Its industry sports an average Forward P/E of 12.31, so we one might conclude that Deere is trading at a premium comparatively.
Investors should also note that DE has a PEG ratio of 1.02 right now. 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. DE's industry had an average PEG ratio of 1.03 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 28, putting it in the top 12% 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.
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 $384.39, marking a +0.93% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Coming into today, shares of the agricultural equipment manufacturer had lost 5.37% in the past month. In that same time, the Industrial Products sector lost 1.33%, while the S&P 500 gained 6.51%.
Investors will be hoping for strength from Deere as it approaches its next earnings release. In that report, analysts expect Deere to post earnings of $8.50 per share. This would mark year-over-year growth of 24.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
It is also important to note the recent changes to analyst estimates for Deere. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Deere is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Deere currently has a Forward P/E ratio of 12.5. Its industry sports an average Forward P/E of 12.31, so we one might conclude that Deere is trading at a premium comparatively.
Investors should also note that DE has a PEG ratio of 1.02 right now. 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. DE's industry had an average PEG ratio of 1.03 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 28, putting it in the top 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.