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Deere (DE) Gains As Market Dips: What You Should Know
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Deere (DE - Free Report) closed at $406.94 in the latest trading session, marking a +0.22% move from the prior day. This change outpaced the S&P 500's 0.89% loss on the day. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.25%.
Coming into today, shares of the agricultural equipment manufacturer had gained 13.69% in the past month. In that same time, the Industrial Products sector gained 19.12%, while the S&P 500 gained 11.42%.
Investors will be hoping for strength from Deere as it approaches its next earnings release, which is expected to be November 23, 2022. On that day, Deere is projected to report earnings of $7.09 per share, which would represent year-over-year growth of 72.09%. Meanwhile, our latest consensus estimate is calling for revenue of $13.48 billion, up 31.16% from the prior-year quarter.
Any recent changes to analyst estimates for Deere should also be noted by investors. Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 has moved 0.86% lower. Deere is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Deere has a Forward P/E ratio of 15.27 right now. This valuation marks a premium compared to its industry's average Forward P/E of 14.12.
Meanwhile, DE's PEG ratio is currently 1.21. 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 was holding an average PEG ratio of 1.21 at yesterday's closing price.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% 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.
To follow DE in the coming trading sessions, be sure to utilize Zacks.com.
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Deere (DE) Gains As Market Dips: What You Should Know
Deere (DE - Free Report) closed at $406.94 in the latest trading session, marking a +0.22% move from the prior day. This change outpaced the S&P 500's 0.89% loss on the day. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.25%.
Coming into today, shares of the agricultural equipment manufacturer had gained 13.69% in the past month. In that same time, the Industrial Products sector gained 19.12%, while the S&P 500 gained 11.42%.
Investors will be hoping for strength from Deere as it approaches its next earnings release, which is expected to be November 23, 2022. On that day, Deere is projected to report earnings of $7.09 per share, which would represent year-over-year growth of 72.09%. Meanwhile, our latest consensus estimate is calling for revenue of $13.48 billion, up 31.16% from the prior-year quarter.
Any recent changes to analyst estimates for Deere should also be noted by investors. Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 has moved 0.86% lower. Deere is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Deere has a Forward P/E ratio of 15.27 right now. This valuation marks a premium compared to its industry's average Forward P/E of 14.12.
Meanwhile, DE's PEG ratio is currently 1.21. 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 was holding an average PEG ratio of 1.21 at yesterday's closing price.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% 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.
To follow DE in the coming trading sessions, be sure to utilize Zacks.com.