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Deere (DE - Free Report) closed at $346.06 in the latest trading session, marking a +0.35% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.04%. Meanwhile, the Dow experienced a rise of 0.76%, and the technology-dominated Nasdaq saw an increase of 1.03%.
The the stock of agricultural equipment manufacturer has fallen by 2.86% in the past month, lagging the Industrial Products sector's loss of 1.33% and overreaching the S&P 500's loss of 6.74%.
The investment community will be paying close attention to the earnings performance of Deere in its upcoming release. The company is slated to reveal its earnings on August 15, 2024. The company's earnings per share (EPS) are projected to be $5.85, reflecting a 42.65% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $10.89 billion, down 23.73% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $25.41 per share and revenue of $45.22 billion. These totals would mark changes of -26.62% and -18.62%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Deere. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 0.7% lower. At present, Deere boasts a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Deere has a Forward P/E ratio of 13.57 right now. This expresses a premium compared to the average Forward P/E of 11.38 of its industry.
Also, we should mention that DE has a PEG ratio of 1.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Manufacturing - Farm Equipment industry had an average PEG ratio of 1.53.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 243, placing it within the bottom 4% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Deere (DE - Free Report) closed at $346.06 in the latest trading session, marking a +0.35% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.04%. Meanwhile, the Dow experienced a rise of 0.76%, and the technology-dominated Nasdaq saw an increase of 1.03%.
The the stock of agricultural equipment manufacturer has fallen by 2.86% in the past month, lagging the Industrial Products sector's loss of 1.33% and overreaching the S&P 500's loss of 6.74%.
The investment community will be paying close attention to the earnings performance of Deere in its upcoming release. The company is slated to reveal its earnings on August 15, 2024. The company's earnings per share (EPS) are projected to be $5.85, reflecting a 42.65% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $10.89 billion, down 23.73% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $25.41 per share and revenue of $45.22 billion. These totals would mark changes of -26.62% and -18.62%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Deere. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 0.7% lower. At present, Deere boasts a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Deere has a Forward P/E ratio of 13.57 right now. This expresses a premium compared to the average Forward P/E of 11.38 of its industry.
Also, we should mention that DE has a PEG ratio of 1.53. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Manufacturing - Farm Equipment industry had an average PEG ratio of 1.53.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 243, placing it within the bottom 4% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.