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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 $330.60, moving -0.6% from the previous trading session. This move lagged the S&P 500's daily loss of 0.24%.
Heading into today, shares of the agricultural equipment manufacturer had lost 8% over the past month, lagging the Industrial Products sector's loss of 6.15% and the S&P 500's loss of 2.12% in that time.
DE will be looking to display strength as it nears its next earnings release, which is expected to be November 24, 2021. In that report, analysts expect DE to post earnings of $4.02 per share. This would mark year-over-year growth of 68.2%. Meanwhile, our latest consensus estimate is calling for revenue of $10.76 billion, up 24.24% from the prior-year quarter.
DE's full-year Zacks Consensus Estimates are calling for earnings of $18.90 per share and revenue of $40.87 billion. These results would represent year-over-year changes of +117.49% and +30.68%, respectively.
Investors should also note any recent changes to analyst estimates for DE. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. DE is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note DE's current valuation metrics, including its Forward P/E ratio of 17.59. Its industry sports an average Forward P/E of 16.42, so we one might conclude that DE is trading at a premium comparatively.
It is also worth noting that DE currently has a PEG ratio of 0.83. 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. Manufacturing - Farm Equipment stocks are, on average, holding a PEG ratio of 0.95 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 46, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Deere (DE) Dips More Than Broader Markets: What You Should Know
Deere (DE - Free Report) closed the most recent trading day at $330.60, moving -0.6% from the previous trading session. This move lagged the S&P 500's daily loss of 0.24%.
Heading into today, shares of the agricultural equipment manufacturer had lost 8% over the past month, lagging the Industrial Products sector's loss of 6.15% and the S&P 500's loss of 2.12% in that time.
DE will be looking to display strength as it nears its next earnings release, which is expected to be November 24, 2021. In that report, analysts expect DE to post earnings of $4.02 per share. This would mark year-over-year growth of 68.2%. Meanwhile, our latest consensus estimate is calling for revenue of $10.76 billion, up 24.24% from the prior-year quarter.
DE's full-year Zacks Consensus Estimates are calling for earnings of $18.90 per share and revenue of $40.87 billion. These results would represent year-over-year changes of +117.49% and +30.68%, respectively.
Investors should also note any recent changes to analyst estimates for DE. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. DE is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note DE's current valuation metrics, including its Forward P/E ratio of 17.59. Its industry sports an average Forward P/E of 16.42, so we one might conclude that DE is trading at a premium comparatively.
It is also worth noting that DE currently has a PEG ratio of 0.83. 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. Manufacturing - Farm Equipment stocks are, on average, holding a PEG ratio of 0.95 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 46, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.