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Deere (DE) Gains As Market Dips: What You Should Know
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Deere (DE - Free Report) closed at $410.19 in the latest trading session, marking a +1.42% move from the prior day. This move outpaced the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Prior to today's trading, shares of the agricultural equipment manufacturer had gained 13.23% over the past month. This has outpaced the Industrial Products sector's gain of 7.3% and the S&P 500's gain of 5.01% in that time.
Deere will be looking to display strength as it nears its next earnings release. On that day, Deere is projected to report earnings of $8.14 per share, which would represent year-over-year growth of 32.14%. Meanwhile, our latest consensus estimate is calling for revenue of $14.21 billion, up 9.31% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $31.91 per share and revenue of $56.11 billion. These totals would mark changes of +37.07% and +17.1%, respectively, from last year.
Investors might also notice 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. 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 0.34% higher. Deere is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Deere is holding a Forward P/E ratio of 12.67. Its industry sports an average Forward P/E of 13.17, so we one might conclude that Deere is trading at a discount comparatively.
Meanwhile, DE's PEG ratio is currently 0.99. 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 0.98 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 115, putting it in the top 46% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Deere (DE) Gains As Market Dips: What You Should Know
Deere (DE - Free Report) closed at $410.19 in the latest trading session, marking a +1.42% move from the prior day. This move outpaced the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Prior to today's trading, shares of the agricultural equipment manufacturer had gained 13.23% over the past month. This has outpaced the Industrial Products sector's gain of 7.3% and the S&P 500's gain of 5.01% in that time.
Deere will be looking to display strength as it nears its next earnings release. On that day, Deere is projected to report earnings of $8.14 per share, which would represent year-over-year growth of 32.14%. Meanwhile, our latest consensus estimate is calling for revenue of $14.21 billion, up 9.31% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $31.91 per share and revenue of $56.11 billion. These totals would mark changes of +37.07% and +17.1%, respectively, from last year.
Investors might also notice 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. 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 0.34% higher. Deere is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Deere is holding a Forward P/E ratio of 12.67. Its industry sports an average Forward P/E of 13.17, so we one might conclude that Deere is trading at a discount comparatively.
Meanwhile, DE's PEG ratio is currently 0.99. 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 0.98 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 115, putting it in the top 46% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.