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Deere (DE) Dips More Than Broader Markets: What You Should Know

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Deere (DE - Free Report) closed the most recent trading day at $355.95, moving -1.56% from the previous trading session. This change lagged the S&P 500's 0.18% loss on the day.

Coming into today, shares of the agricultural equipment manufacturer had gained 2.58% in the past month. In that same time, the Industrial Products sector gained 1.32%, while the S&P 500 gained 2.44%.

DE will be looking to display strength as it nears its next earnings release, which is expected to be August 20, 2021. The company is expected to report EPS of $4.46, up 73.54% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $10.2 billion, up 29.77% from the prior-year quarter.

DE's full-year Zacks Consensus Estimates are calling for earnings of $17.98 per share and revenue of $39.55 billion. These results would represent year-over-year changes of +106.9% and +26.47%, respectively.

Any recent changes to analyst estimates for DE should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. DE currently has a Zacks Rank of #2 (Buy).

Investors should also note DE's current valuation metrics, including its Forward P/E ratio of 20.11. For comparison, its industry has an average Forward P/E of 19.96, which means DE is trading at a premium to the group.

Investors should also note that DE has a PEG ratio of 1 right now. 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. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.31 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 24, putting it in the top 10% 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.

You can find more information on all of these metrics, and much more, on

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