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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 $412.84, marking a +0.21% move from the previous day. This move lagged the S&P 500's daily gain of 0.74%. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq added 1.68%.
Shares of the agricultural equipment manufacturer witnessed a gain of 8.74% over the previous month, beating the performance of the Industrial Products sector with its gain of 3.51% and the S&P 500's gain of 0.8%.
Investors will be eagerly watching for the performance of Deere in its upcoming earnings disclosure. In that report, analysts expect Deere to post earnings of $7.82 per share. This would mark a year-over-year decline of 18.96%. Meanwhile, the latest consensus estimate predicts the revenue to be $13.21 billion, indicating a 17.83% decrease compared to the same quarter of the previous year.
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. 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Deere holds a Zacks Rank of #3 (Hold).
In terms of valuation, Deere is presently being traded at a Forward P/E ratio of 15.03. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 15.03.
We can also see that DE currently has a PEG ratio of 1.55. 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 had an average PEG ratio of 1.07 as trading concluded yesterday.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.
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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 $412.84, marking a +0.21% move from the previous day. This move lagged the S&P 500's daily gain of 0.74%. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq added 1.68%.
Shares of the agricultural equipment manufacturer witnessed a gain of 8.74% over the previous month, beating the performance of the Industrial Products sector with its gain of 3.51% and the S&P 500's gain of 0.8%.
Investors will be eagerly watching for the performance of Deere in its upcoming earnings disclosure. In that report, analysts expect Deere to post earnings of $7.82 per share. This would mark a year-over-year decline of 18.96%. Meanwhile, the latest consensus estimate predicts the revenue to be $13.21 billion, indicating a 17.83% decrease compared to the same quarter of the previous year.
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. 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Deere holds a Zacks Rank of #3 (Hold).
In terms of valuation, Deere is presently being traded at a Forward P/E ratio of 15.03. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 15.03.
We can also see that DE currently has a PEG ratio of 1.55. 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 had an average PEG ratio of 1.07 as trading concluded yesterday.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.