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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 $366.05 in the latest trading session, marking a -0.57% move from the prior day. This change lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.45%, and the tech-heavy Nasdaq lost 0.44%.
Prior to today's trading, shares of the agricultural equipment manufacturer had gained 23.67% over the past month. This has outpaced the Industrial Products sector's gain of 17.67% and the S&P 500's gain of 12.15% in that time.
Investors will be hoping for strength from Deere as it approaches its next earnings release, which is expected to be August 19, 2022. In that report, analysts expect Deere to post earnings of $6.62 per share. This would mark year-over-year growth of 24.44%. Our most recent consensus estimate is calling for quarterly revenue of $12.95 billion, up 24.35% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $23.26 per share and revenue of $47.73 billion, which would represent changes of +22.49% and +20.1%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Deere. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.2% lower. Deere is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Deere is holding a Forward P/E ratio of 15.83. Its industry sports an average Forward P/E of 15.83, so we one might conclude that Deere is trading at a no noticeable deviation comparatively.
Investors should also note that DE has a PEG ratio of 1.26 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. DE's industry had an average PEG ratio of 1.26 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 36, putting it in the top 15% 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 Zacks.com.
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Deere (DE) Stock Sinks As Market Gains: What You Should Know
Deere (DE - Free Report) closed at $366.05 in the latest trading session, marking a -0.57% move from the prior day. This change lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.45%, and the tech-heavy Nasdaq lost 0.44%.
Prior to today's trading, shares of the agricultural equipment manufacturer had gained 23.67% over the past month. This has outpaced the Industrial Products sector's gain of 17.67% and the S&P 500's gain of 12.15% in that time.
Investors will be hoping for strength from Deere as it approaches its next earnings release, which is expected to be August 19, 2022. In that report, analysts expect Deere to post earnings of $6.62 per share. This would mark year-over-year growth of 24.44%. Our most recent consensus estimate is calling for quarterly revenue of $12.95 billion, up 24.35% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $23.26 per share and revenue of $47.73 billion, which would represent changes of +22.49% and +20.1%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Deere. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.2% lower. Deere is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Deere is holding a Forward P/E ratio of 15.83. Its industry sports an average Forward P/E of 15.83, so we one might conclude that Deere is trading at a no noticeable deviation comparatively.
Investors should also note that DE has a PEG ratio of 1.26 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. DE's industry had an average PEG ratio of 1.26 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 36, putting it in the top 15% 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 Zacks.com.