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Deere (DE) Stock Moves -0.42%: What You Should Know
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Deere (DE - Free Report) closed the latest trading day at $380.66, indicating a -0.42% change from the previous session's end. This move was narrower than the S&P 500's daily loss of 0.5%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 1.23%.
The agricultural equipment manufacturer's shares have seen a decrease of 7.14% over the last month, not keeping up with the Industrial Products sector's loss of 2% and the S&P 500's loss of 2.4%.
Analysts and investors alike will be keeping a close eye on the performance of Deere in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $7.58, marking a 1.88% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $13.82 billion, indicating a 3.69% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $33.91 per share and revenue of $56.03 billion. These totals would mark changes of +45.66% and +16.93%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. The Zacks Consensus EPS estimate has moved 0.02% higher within the past month. Deere is currently a Zacks Rank #2 (Buy).
In the context of valuation, Deere is at present trading with a Forward P/E ratio of 11.27. This represents a discount compared to its industry's average Forward P/E of 11.82.
One should further note that DE currently holds a PEG ratio of 0.93. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Manufacturing - Farm Equipment was holding an average PEG ratio of 0.94 at yesterday's closing price.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 26, this industry ranks in the top 11% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Stock Moves -0.42%: What You Should Know
Deere (DE - Free Report) closed the latest trading day at $380.66, indicating a -0.42% change from the previous session's end. This move was narrower than the S&P 500's daily loss of 0.5%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 1.23%.
The agricultural equipment manufacturer's shares have seen a decrease of 7.14% over the last month, not keeping up with the Industrial Products sector's loss of 2% and the S&P 500's loss of 2.4%.
Analysts and investors alike will be keeping a close eye on the performance of Deere in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $7.58, marking a 1.88% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $13.82 billion, indicating a 3.69% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $33.91 per share and revenue of $56.03 billion. These totals would mark changes of +45.66% and +16.93%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. The Zacks Consensus EPS estimate has moved 0.02% higher within the past month. Deere is currently a Zacks Rank #2 (Buy).
In the context of valuation, Deere is at present trading with a Forward P/E ratio of 11.27. This represents a discount compared to its industry's average Forward P/E of 11.82.
One should further note that DE currently holds a PEG ratio of 0.93. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Manufacturing - Farm Equipment was holding an average PEG ratio of 0.94 at yesterday's closing price.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 26, this industry ranks in the top 11% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.