We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Deere (DE) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
Deere (DE - Free Report) ended the recent trading session at $404.14, demonstrating a -1.61% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.2%. Meanwhile, the Dow lost 0.6%, and the Nasdaq, a tech-heavy index, added 0.11%.
The agricultural equipment manufacturer's stock has climbed by 11.66% in the past month, exceeding the Industrial Products sector's gain of 6.47% and the S&P 500's gain of 3.32%.
The investment community will be paying close attention to the earnings performance of Deere in its upcoming release. The company's upcoming EPS is projected at $7.82, signifying a 18.96% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $13.21 billion, down 17.83% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $27.41 per share and a revenue of $47.25 billion, representing changes of -20.85% and -14.97%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has shifted 0.2% downward. Deere is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Deere is at present trading with a Forward P/E ratio of 14.98. This expresses a premium compared to the average Forward P/E of 14.29 of its industry.
We can additionally observe that DE currently boasts a PEG ratio of 1.54. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.34 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 191, placing it within the bottom 25% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Deere (DE) Suffers a Larger Drop Than the General Market: Key Insights
Deere (DE - Free Report) ended the recent trading session at $404.14, demonstrating a -1.61% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.2%. Meanwhile, the Dow lost 0.6%, and the Nasdaq, a tech-heavy index, added 0.11%.
The agricultural equipment manufacturer's stock has climbed by 11.66% in the past month, exceeding the Industrial Products sector's gain of 6.47% and the S&P 500's gain of 3.32%.
The investment community will be paying close attention to the earnings performance of Deere in its upcoming release. The company's upcoming EPS is projected at $7.82, signifying a 18.96% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $13.21 billion, down 17.83% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $27.41 per share and a revenue of $47.25 billion, representing changes of -20.85% and -14.97%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 past month, the Zacks Consensus EPS estimate has shifted 0.2% downward. Deere is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Deere is at present trading with a Forward P/E ratio of 14.98. This expresses a premium compared to the average Forward P/E of 14.29 of its industry.
We can additionally observe that DE currently boasts a PEG ratio of 1.54. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.34 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 191, placing it within the bottom 25% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.