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Deere (DE) Stock Sinks As Market Gains: What You Should Know
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Deere (DE - Free Report) closed at $383.03 in the latest trading session, marking a -0.25% move from the prior day. This change lagged the S&P 500's daily gain of 0.26%.
Coming into today, shares of the agricultural equipment manufacturer had gained 12.12% in the past month. In that same time, the Industrial Products sector gained 3.56%, while the S&P 500 gained 2.37%.
Wall Street will be looking for positivity from DE as it approaches its next earnings report date. This is expected to be August 20, 2021. The company is expected to report EPS of $4.49, up 74.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.2 billion, up 29.77% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $18.01 per share and revenue of $39.55 billion, which would represent changes of +107.25% and +26.47%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for DE. These revisions help to show the ever-changing nature of near-term business trends. 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 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 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. The Zacks Consensus EPS estimate has moved 0.16% higher within the past month. DE is currently a Zacks Rank #2 (Buy).
In terms of valuation, DE is currently trading at a Forward P/E ratio of 21.32. Its industry sports an average Forward P/E of 18.57, so we one might conclude that DE is trading at a premium comparatively.
Investors should also note that DE has a PEG ratio of 1.06 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Manufacturing - Farm Equipment stocks are, on average, holding a PEG ratio of 1.08 based on yesterday's closing prices.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Deere (DE) Stock Sinks As Market Gains: What You Should Know
Deere (DE - Free Report) closed at $383.03 in the latest trading session, marking a -0.25% move from the prior day. This change lagged the S&P 500's daily gain of 0.26%.
Coming into today, shares of the agricultural equipment manufacturer had gained 12.12% in the past month. In that same time, the Industrial Products sector gained 3.56%, while the S&P 500 gained 2.37%.
Wall Street will be looking for positivity from DE as it approaches its next earnings report date. This is expected to be August 20, 2021. The company is expected to report EPS of $4.49, up 74.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.2 billion, up 29.77% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $18.01 per share and revenue of $39.55 billion, which would represent changes of +107.25% and +26.47%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for DE. These revisions help to show the ever-changing nature of near-term business trends. 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 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 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. The Zacks Consensus EPS estimate has moved 0.16% higher within the past month. DE is currently a Zacks Rank #2 (Buy).
In terms of valuation, DE is currently trading at a Forward P/E ratio of 21.32. Its industry sports an average Forward P/E of 18.57, so we one might conclude that DE is trading at a premium comparatively.
Investors should also note that DE has a PEG ratio of 1.06 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Manufacturing - Farm Equipment stocks are, on average, holding a PEG ratio of 1.08 based on yesterday's closing prices.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.