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Deere (DE) Registers a Bigger Fall Than the Market: Important Facts to Note
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Deere (DE - Free Report) closed the most recent trading day at $380.64, moving -1.17% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.78%. At the same time, the Dow lost 1.29%, and the tech-heavy Nasdaq lost 0.7%.
Prior to today's trading, shares of the agricultural equipment manufacturer had gained 0.62% over the past month. This has lagged the Industrial Products sector's gain of 4.21% and the S&P 500's gain of 2.14% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Deere in its upcoming earnings disclosure. The company's earnings report is set to go public on August 15, 2024. The company is predicted to post an EPS of $5.96, indicating a 41.57% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $11 billion, indicating a 22.98% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $25.47 per share and revenue of $45.36 billion, which would represent changes of -26.45% and -18.36%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Deere. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.53% decrease. As of now, Deere holds a Zacks Rank of #4 (Sell).
In the context of valuation, Deere is at present trading with a Forward P/E ratio of 15.12. For comparison, its industry has an average Forward P/E of 12.22, which means Deere is trading at a premium to the group.
We can additionally observe that DE currently boasts a PEG ratio of 1.56. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Manufacturing - Farm Equipment industry was having an average PEG ratio of 1.56.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 242, putting it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Registers a Bigger Fall Than the Market: Important Facts to Note
Deere (DE - Free Report) closed the most recent trading day at $380.64, moving -1.17% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.78%. At the same time, the Dow lost 1.29%, and the tech-heavy Nasdaq lost 0.7%.
Prior to today's trading, shares of the agricultural equipment manufacturer had gained 0.62% over the past month. This has lagged the Industrial Products sector's gain of 4.21% and the S&P 500's gain of 2.14% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Deere in its upcoming earnings disclosure. The company's earnings report is set to go public on August 15, 2024. The company is predicted to post an EPS of $5.96, indicating a 41.57% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $11 billion, indicating a 22.98% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $25.47 per share and revenue of $45.36 billion, which would represent changes of -26.45% and -18.36%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Deere. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.53% decrease. As of now, Deere holds a Zacks Rank of #4 (Sell).
In the context of valuation, Deere is at present trading with a Forward P/E ratio of 15.12. For comparison, its industry has an average Forward P/E of 12.22, which means Deere is trading at a premium to the group.
We can additionally observe that DE currently boasts a PEG ratio of 1.56. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Manufacturing - Farm Equipment industry was having an average PEG ratio of 1.56.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 242, putting it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.