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Deere (DE) Stock Declines While Market Improves: Some Information for Investors
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In the latest trading session, Deere (DE - Free Report) closed at $385.83, marking a -0.03% move from the previous day. This change lagged the S&P 500's 0.06% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.24%.
The the stock of agricultural equipment manufacturer has fallen by 1.97% in the past month, lagging the Industrial Products sector's gain of 4.91% and the S&P 500's gain of 6.45%.
The upcoming earnings release of Deere will be of great interest to investors. The company's earnings report is expected on February 15, 2024. In that report, analysts expect Deere to post earnings of $5.16 per share. This would mark a year-over-year decline of 21.22%. In the meantime, our current consensus estimate forecasts the revenue to be $10.29 billion, indicating a 9.79% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $28.46 per share and a revenue of $47.74 billion, signifying shifts of -17.82% and -14.09%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Deere. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Deere is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Deere is currently trading at a Forward P/E ratio of 13.56. This denotes a premium relative to the industry's average Forward P/E of 13.54.
Meanwhile, DE's PEG ratio is currently 1.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Manufacturing - Farm Equipment industry was having an average PEG ratio of 1.46.
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 is ordered 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.
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 Declines While Market Improves: Some Information for Investors
In the latest trading session, Deere (DE - Free Report) closed at $385.83, marking a -0.03% move from the previous day. This change lagged the S&P 500's 0.06% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.24%.
The the stock of agricultural equipment manufacturer has fallen by 1.97% in the past month, lagging the Industrial Products sector's gain of 4.91% and the S&P 500's gain of 6.45%.
The upcoming earnings release of Deere will be of great interest to investors. The company's earnings report is expected on February 15, 2024. In that report, analysts expect Deere to post earnings of $5.16 per share. This would mark a year-over-year decline of 21.22%. In the meantime, our current consensus estimate forecasts the revenue to be $10.29 billion, indicating a 9.79% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $28.46 per share and a revenue of $47.74 billion, signifying shifts of -17.82% and -14.09%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Deere. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Deere is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Deere is currently trading at a Forward P/E ratio of 13.56. This denotes a premium relative to the industry's average Forward P/E of 13.54.
Meanwhile, DE's PEG ratio is currently 1.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Manufacturing - Farm Equipment industry was having an average PEG ratio of 1.46.
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 is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.