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Deere (DE) Stock Moves 1.26%: What You Should Know
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In the latest trading session, Deere (DE - Free Report) closed at $400.96, marking a +1.26% move from the previous day. The stock's change was equal to S&P 500. Meanwhile, the Dow experienced a rise of 1.18%, and the technology-dominated Nasdaq saw an increase of 1.99%.
The agricultural equipment manufacturer's stock has dropped by 2.74% in the past month, exceeding the Industrial Products sector's loss of 3.92% and lagging the S&P 500's loss of 2.68%.
Market participants will be closely following the financial results of Deere in its upcoming release. The company is expected to report EPS of $7.83, down 18.86% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $13.26 billion, indicating a 17.51% decline compared to the corresponding quarter of the prior year.
DE's full-year Zacks Consensus Estimates are calling for earnings of $27.37 per share and revenue of $47.22 billion. These results would represent year-over-year changes of -20.96% and -15.01%, respectively.
It is also important to note the recent changes to analyst estimates for Deere. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.14% fall in the Zacks Consensus EPS estimate. Currently, Deere is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Deere is presently being traded at a Forward P/E ratio of 14.47. This valuation marks a premium compared to its industry's average Forward P/E of 13.77.
We can additionally observe that DE currently boasts a PEG ratio of 1.49. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Manufacturing - Farm Equipment industry was having an average PEG ratio of 0.96.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Deere (DE) Stock Moves 1.26%: What You Should Know
In the latest trading session, Deere (DE - Free Report) closed at $400.96, marking a +1.26% move from the previous day. The stock's change was equal to S&P 500. Meanwhile, the Dow experienced a rise of 1.18%, and the technology-dominated Nasdaq saw an increase of 1.99%.
The agricultural equipment manufacturer's stock has dropped by 2.74% in the past month, exceeding the Industrial Products sector's loss of 3.92% and lagging the S&P 500's loss of 2.68%.
Market participants will be closely following the financial results of Deere in its upcoming release. The company is expected to report EPS of $7.83, down 18.86% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $13.26 billion, indicating a 17.51% decline compared to the corresponding quarter of the prior year.
DE's full-year Zacks Consensus Estimates are calling for earnings of $27.37 per share and revenue of $47.22 billion. These results would represent year-over-year changes of -20.96% and -15.01%, respectively.
It is also important to note the recent changes to analyst estimates for Deere. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.14% fall in the Zacks Consensus EPS estimate. Currently, Deere is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Deere is presently being traded at a Forward P/E ratio of 14.47. This valuation marks a premium compared to its industry's average Forward P/E of 13.77.
We can additionally observe that DE currently boasts a PEG ratio of 1.49. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Manufacturing - Farm Equipment industry was having an average PEG ratio of 0.96.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.