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Deere (DE) Stock Moves -0.57%: What You Should Know
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In the latest trading session, Deere (DE - Free Report) closed at $369.39, marking a -0.57% move from the previous day. The stock's change was more than the S&P 500's daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.
Shares of the agricultural equipment manufacturer have appreciated by 0.55% over the course of the past month, underperforming the Industrial Products sector's gain of 3.7% and the S&P 500's gain of 1.79%.
The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. The company is scheduled to release its earnings on August 15, 2024. In that report, analysts expect Deere to post earnings of $5.85 per share. This would mark a year-over-year decline of 42.65%. Meanwhile, the latest consensus estimate predicts the revenue to be $10.89 billion, indicating a 23.73% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $25.41 per share and a revenue of $45.22 billion, indicating changes of -26.62% and -18.62%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Deere. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.77% lower. Deere is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Deere currently has a Forward P/E ratio of 14.62. This valuation marks a premium compared to its industry's average Forward P/E of 11.84.
Investors should also note that DE has a PEG ratio of 1.5 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.5 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 241, putting it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Deere (DE) Stock Moves -0.57%: What You Should Know
In the latest trading session, Deere (DE - Free Report) closed at $369.39, marking a -0.57% move from the previous day. The stock's change was more than the S&P 500's daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.
Shares of the agricultural equipment manufacturer have appreciated by 0.55% over the course of the past month, underperforming the Industrial Products sector's gain of 3.7% and the S&P 500's gain of 1.79%.
The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. The company is scheduled to release its earnings on August 15, 2024. In that report, analysts expect Deere to post earnings of $5.85 per share. This would mark a year-over-year decline of 42.65%. Meanwhile, the latest consensus estimate predicts the revenue to be $10.89 billion, indicating a 23.73% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $25.41 per share and a revenue of $45.22 billion, indicating changes of -26.62% and -18.62%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Deere. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.77% lower. Deere is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Deere currently has a Forward P/E ratio of 14.62. This valuation marks a premium compared to its industry's average Forward P/E of 11.84.
Investors should also note that DE has a PEG ratio of 1.5 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.5 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 241, putting it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.