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Deere (DE) Rises But Trails Market: What Investors Should Know
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In the latest trading session, Deere (DE - Free Report) closed at $369.37, marking a +0.04% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.1%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq added 0.08%.
Heading into today, shares of the agricultural equipment manufacturer had lost 5.53% over the past month, lagging the Industrial Products sector's loss of 2.26% and the S&P 500's gain of 1.72% in that time.
The upcoming earnings release of Deere will be of great interest to investors. The company's earnings report is expected on November 22, 2023. The company is predicted to post an EPS of $7.58, indicating a 1.88% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $13.8 billion, reflecting a 3.86% fall from the equivalent 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. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.37% downward. Deere presently features a Zacks Rank of #3 (Hold).
Investors should also note Deere's current valuation metrics, including its Forward P/E ratio of 11.2. This denotes a discount relative to the industry's average Forward P/E of 11.63.
We can additionally observe that DE currently boasts a PEG ratio of 0.92. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Manufacturing - Farm Equipment industry stood at 1.13 at the close of the market yesterday.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 18, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Rises But Trails Market: What Investors Should Know
In the latest trading session, Deere (DE - Free Report) closed at $369.37, marking a +0.04% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.1%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq added 0.08%.
Heading into today, shares of the agricultural equipment manufacturer had lost 5.53% over the past month, lagging the Industrial Products sector's loss of 2.26% and the S&P 500's gain of 1.72% in that time.
The upcoming earnings release of Deere will be of great interest to investors. The company's earnings report is expected on November 22, 2023. The company is predicted to post an EPS of $7.58, indicating a 1.88% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $13.8 billion, reflecting a 3.86% fall from the equivalent 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. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.37% downward. Deere presently features a Zacks Rank of #3 (Hold).
Investors should also note Deere's current valuation metrics, including its Forward P/E ratio of 11.2. This denotes a discount relative to the industry's average Forward P/E of 11.63.
We can additionally observe that DE currently boasts a PEG ratio of 0.92. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Manufacturing - Farm Equipment industry stood at 1.13 at the close of the market yesterday.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 18, putting it in the top 8% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.