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Deere (DE - Free Report) closed the most recent trading day at $370.47, moving +1.4% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 1.05%. Elsewhere, the Dow saw an upswing of 0.67%, while the tech-heavy Nasdaq appreciated by 1.64%.
Shares of the agricultural equipment manufacturer have depreciated by 1.99% over the course of the past month, outperforming the Industrial Products sector's loss of 5.03% and the S&P 500's loss of 2.21%.
The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. The company is scheduled to release its earnings on November 22, 2023. The company's earnings per share (EPS) are projected to be $8.25, reflecting a 10.89% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $13.82 billion, indicating a 3.69% downward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Deere. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.16% higher. At present, Deere boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Deere is holding a Forward P/E ratio of 10.76. For comparison, its industry has an average Forward P/E of 11.11, which means Deere is trading at a discount to the group.
Meanwhile, DE's PEG ratio is currently 0.89. 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 1.09 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 32, finds itself in the top 13% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Deere (DE) Rises Higher Than Market: Key Facts
Deere (DE - Free Report) closed the most recent trading day at $370.47, moving +1.4% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 1.05%. Elsewhere, the Dow saw an upswing of 0.67%, while the tech-heavy Nasdaq appreciated by 1.64%.
Shares of the agricultural equipment manufacturer have depreciated by 1.99% over the course of the past month, outperforming the Industrial Products sector's loss of 5.03% and the S&P 500's loss of 2.21%.
The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. The company is scheduled to release its earnings on November 22, 2023. The company's earnings per share (EPS) are projected to be $8.25, reflecting a 10.89% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $13.82 billion, indicating a 3.69% downward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Deere. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.16% higher. At present, Deere boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Deere is holding a Forward P/E ratio of 10.76. For comparison, its industry has an average Forward P/E of 11.11, which means Deere is trading at a discount to the group.
Meanwhile, DE's PEG ratio is currently 0.89. 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 1.09 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 32, finds itself in the top 13% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.