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Deere (DE) Stock Falls Amid Market Uptick: What Investors Need to Know
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Deere (DE - Free Report) closed at $386.51 in the latest trading session, marking a -0.95% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.02%.
Shares of the agricultural equipment manufacturer have appreciated by 0.46% over the course of the past month, underperforming the Industrial Products sector's gain of 4.54% and the S&P 500's gain of 3.52%.
Market participants will be closely following the financial results of Deere in its upcoming release. In that report, analysts expect Deere to post earnings of $5.16 per share. This would mark a year-over-year decline of 21.22%. Meanwhile, our latest consensus estimate is calling for revenue of $10.31 billion, down 9.53% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $28.46 per share and a revenue of $48.96 billion, demonstrating changes of -17.82% and -11.89%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Deere. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.06% downward. As of now, Deere holds a Zacks Rank of #4 (Sell).
Investors should also note Deere's current valuation metrics, including its Forward P/E ratio of 13.71. This represents a premium compared to its industry's average Forward P/E of 13.65.
It is also worth noting that DE currently has a PEG ratio of 1.13. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Manufacturing - Farm Equipment industry was having an average PEG ratio of 1.2.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 235, putting it in the bottom 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Deere (DE) Stock Falls Amid Market Uptick: What Investors Need to Know
Deere (DE - Free Report) closed at $386.51 in the latest trading session, marking a -0.95% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.02%.
Shares of the agricultural equipment manufacturer have appreciated by 0.46% over the course of the past month, underperforming the Industrial Products sector's gain of 4.54% and the S&P 500's gain of 3.52%.
Market participants will be closely following the financial results of Deere in its upcoming release. In that report, analysts expect Deere to post earnings of $5.16 per share. This would mark a year-over-year decline of 21.22%. Meanwhile, our latest consensus estimate is calling for revenue of $10.31 billion, down 9.53% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $28.46 per share and a revenue of $48.96 billion, demonstrating changes of -17.82% and -11.89%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Deere. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.06% downward. As of now, Deere holds a Zacks Rank of #4 (Sell).
Investors should also note Deere's current valuation metrics, including its Forward P/E ratio of 13.71. This represents a premium compared to its industry's average Forward P/E of 13.65.
It is also worth noting that DE currently has a PEG ratio of 1.13. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Manufacturing - Farm Equipment industry was having an average PEG ratio of 1.2.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 235, putting it in the bottom 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.