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Deere (DE) Stock Moves -0.21%: What You Should Know
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In the latest trading session, Deere (DE - Free Report) closed at $398.03, marking a -0.21% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.31%. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Coming into today, shares of the agricultural equipment manufacturer had gained 9.38% in the past month. In that same time, the Industrial Products sector gained 7.1%, while the S&P 500 gained 3.05%.
The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. The company is forecasted to report an EPS of $7.82, showcasing a 18.96% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.21 billion, down 17.83% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $27.41 per share and a revenue of $47.25 billion, signifying shifts of -20.85% and -14.97%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Deere. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.2% lower. Currently, Deere is carrying a Zacks Rank of #3 (Hold).
Investors should also note Deere's current valuation metrics, including its Forward P/E ratio of 14.55. This valuation marks a premium compared to its industry's average Forward P/E of 14.4.
Investors should also note that DE has a PEG ratio of 1.5 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Manufacturing - Farm Equipment industry had an average PEG ratio of 1.35 as trading concluded yesterday.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Stock Moves -0.21%: What You Should Know
In the latest trading session, Deere (DE - Free Report) closed at $398.03, marking a -0.21% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.31%. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Coming into today, shares of the agricultural equipment manufacturer had gained 9.38% in the past month. In that same time, the Industrial Products sector gained 7.1%, while the S&P 500 gained 3.05%.
The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. The company is forecasted to report an EPS of $7.82, showcasing a 18.96% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.21 billion, down 17.83% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $27.41 per share and a revenue of $47.25 billion, signifying shifts of -20.85% and -14.97%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Deere. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.2% lower. Currently, Deere is carrying a Zacks Rank of #3 (Hold).
Investors should also note Deere's current valuation metrics, including its Forward P/E ratio of 14.55. This valuation marks a premium compared to its industry's average Forward P/E of 14.4.
Investors should also note that DE has a PEG ratio of 1.5 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Manufacturing - Farm Equipment industry had an average PEG ratio of 1.35 as trading concluded yesterday.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.