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Deere (DE) Dips More Than Broader Markets: What You Should Know
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Deere (DE - Free Report) closed at $333.21 in the latest trading session, marking a -1.47% move from the prior day. This change lagged the S&P 500's 0.67% loss on the day. Elsewhere, the Dow lost 1.23%, while the tech-heavy Nasdaq lost 0.05%.
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 11.86%, while the S&P 500 gained 7.79%.
Deere will be looking to display strength as it nears its next earnings release, which is expected to be August 19, 2022. On that day, Deere is projected to report earnings of $6.60 per share, which would represent year-over-year growth of 24.06%. Our most recent consensus estimate is calling for quarterly revenue of $12.95 billion, up 24.35% from the year-ago period.
DE's full-year Zacks Consensus Estimates are calling for earnings of $23.30 per share and revenue of $47.73 billion. These results would represent year-over-year changes of +22.7% and +20.1%, respectively.
Investors should also note any recent changes to analyst estimates for Deere. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.17% lower. Deere is currently a Zacks Rank #4 (Sell).
In terms of valuation, Deere is currently trading at a Forward P/E ratio of 14.52. For comparison, its industry has an average Forward P/E of 14.52, which means Deere is trading at a no noticeable deviation to the group.
Also, we should mention that DE has a PEG ratio of 1.15. 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. DE's industry had an average PEG ratio of 1.15 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 39, putting it in the top 16% 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.
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) Dips More Than Broader Markets: What You Should Know
Deere (DE - Free Report) closed at $333.21 in the latest trading session, marking a -1.47% move from the prior day. This change lagged the S&P 500's 0.67% loss on the day. Elsewhere, the Dow lost 1.23%, while the tech-heavy Nasdaq lost 0.05%.
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 11.86%, while the S&P 500 gained 7.79%.
Deere will be looking to display strength as it nears its next earnings release, which is expected to be August 19, 2022. On that day, Deere is projected to report earnings of $6.60 per share, which would represent year-over-year growth of 24.06%. Our most recent consensus estimate is calling for quarterly revenue of $12.95 billion, up 24.35% from the year-ago period.
DE's full-year Zacks Consensus Estimates are calling for earnings of $23.30 per share and revenue of $47.73 billion. These results would represent year-over-year changes of +22.7% and +20.1%, respectively.
Investors should also note any recent changes to analyst estimates for Deere. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.17% lower. Deere is currently a Zacks Rank #4 (Sell).
In terms of valuation, Deere is currently trading at a Forward P/E ratio of 14.52. For comparison, its industry has an average Forward P/E of 14.52, which means Deere is trading at a no noticeable deviation to the group.
Also, we should mention that DE has a PEG ratio of 1.15. 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. DE's industry had an average PEG ratio of 1.15 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 39, putting it in the top 16% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.