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Deere (DE) Stock Moves -0.64%: What You Should Know
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Deere (DE - Free Report) closed the most recent trading day at $369.54, moving -0.64% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.18%. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.76%.
The the stock of agricultural equipment manufacturer has fallen by 3.24% in the past month, leading the Industrial Products sector's loss of 6.04% and the S&P 500's loss of 3.35%.
The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. On that day, Deere is projected to report earnings of $7.58 per share, which would represent year-over-year growth of 1.88%. Meanwhile, our latest consensus estimate is calling for revenue of $13.82 billion, down 3.69% from the prior-year quarter.
DE's full-year Zacks Consensus Estimates are calling for earnings of $33.96 per share and revenue of $56.03 billion. These results would represent year-over-year changes of +45.88% and +16.93%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Deere. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% increase. Deere currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, Deere is currently exchanging hands at a Forward P/E ratio of 10.95. This denotes a discount relative to the industry's average Forward P/E of 11.29.
It's also important to note that DE currently trades at a PEG ratio of 0.9. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. DE's industry had an average PEG ratio of 1.08 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 23, putting it in the top 10% 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Deere (DE) Stock Moves -0.64%: What You Should Know
Deere (DE - Free Report) closed the most recent trading day at $369.54, moving -0.64% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.18%. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.76%.
The the stock of agricultural equipment manufacturer has fallen by 3.24% in the past month, leading the Industrial Products sector's loss of 6.04% and the S&P 500's loss of 3.35%.
The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. On that day, Deere is projected to report earnings of $7.58 per share, which would represent year-over-year growth of 1.88%. Meanwhile, our latest consensus estimate is calling for revenue of $13.82 billion, down 3.69% from the prior-year quarter.
DE's full-year Zacks Consensus Estimates are calling for earnings of $33.96 per share and revenue of $56.03 billion. These results would represent year-over-year changes of +45.88% and +16.93%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Deere. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% increase. Deere currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, Deere is currently exchanging hands at a Forward P/E ratio of 10.95. This denotes a discount relative to the industry's average Forward P/E of 11.29.
It's also important to note that DE currently trades at a PEG ratio of 0.9. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. DE's industry had an average PEG ratio of 1.08 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 23, putting it in the top 10% 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.