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Deere (DE) Stock Moves -0.26%: What You Should Know
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Deere (DE - Free Report) closed at $395.82 in the latest trading session, marking a -0.26% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.39%, and the Nasdaq, a tech-heavy index, added 0.13%.
Coming into today, shares of the agricultural equipment manufacturer had gained 18.86% in the past month. In that same time, the Industrial Products sector gained 10.75%, while the S&P 500 gained 4.98%.
Deere will be looking to display strength as it nears its next earnings release, which is expected to be November 23, 2022. The company is expected to report EPS of $7.09, up 72.09% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $13.48 billion, up 31.16% from the prior-year quarter.
DE's full-year Zacks Consensus Estimates are calling for earnings of $22.89 per share and revenue of $47.04 billion. These results would represent year-over-year changes of +20.54% and +18.38%, respectively.
Any recent changes to analyst estimates for Deere should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.23% lower. Deere is currently a Zacks Rank #3 (Hold).
Digging into valuation, Deere currently has a Forward P/E ratio of 17.34. For comparison, its industry has an average Forward P/E of 14.84, which means Deere is trading at a premium to the group.
Also, we should mention that DE has a PEG ratio of 1.38. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Manufacturing - Farm Equipment was holding an average PEG ratio of 1.38 at yesterday's closing price.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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 -0.26%: What You Should Know
Deere (DE - Free Report) closed at $395.82 in the latest trading session, marking a -0.26% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.75%. Meanwhile, the Dow lost 0.39%, and the Nasdaq, a tech-heavy index, added 0.13%.
Coming into today, shares of the agricultural equipment manufacturer had gained 18.86% in the past month. In that same time, the Industrial Products sector gained 10.75%, while the S&P 500 gained 4.98%.
Deere will be looking to display strength as it nears its next earnings release, which is expected to be November 23, 2022. The company is expected to report EPS of $7.09, up 72.09% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $13.48 billion, up 31.16% from the prior-year quarter.
DE's full-year Zacks Consensus Estimates are calling for earnings of $22.89 per share and revenue of $47.04 billion. These results would represent year-over-year changes of +20.54% and +18.38%, respectively.
Any recent changes to analyst estimates for Deere should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.23% lower. Deere is currently a Zacks Rank #3 (Hold).
Digging into valuation, Deere currently has a Forward P/E ratio of 17.34. For comparison, its industry has an average Forward P/E of 14.84, which means Deere is trading at a premium to the group.
Also, we should mention that DE has a PEG ratio of 1.38. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Manufacturing - Farm Equipment was holding an average PEG ratio of 1.38 at yesterday's closing price.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.