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Deere (DE) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, Deere (DE - Free Report) closed at $457.31, marking a -1.2% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.37% for the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 0.71%.
Coming into today, shares of the agricultural equipment manufacturer had lost 2.19% in the past month. In that same time, the Industrial Products sector gained 3.99%, while the S&P 500 gained 4.26%.
The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. The company is expected to report EPS of $3.97, down 12.75% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $9.97 billion, indicating a 7.5% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $18.56 per share and revenue of $38.28 billion. These totals would mark changes of -27.56% and -14.48%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Deere. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.24% decrease. Deere currently has a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Deere has a Forward P/E ratio of 24.94 right now. Its industry sports an average Forward P/E of 20.56, so one might conclude that Deere is trading at a premium comparatively.
Also, we should mention that DE has a PEG ratio of 2.98. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Manufacturing - Farm Equipment industry had an average PEG ratio of 1.75.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 215, this industry ranks in the bottom 13% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Deere (DE - Free Report) closed at $457.31, marking a -1.2% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.37% for the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 0.71%.
Coming into today, shares of the agricultural equipment manufacturer had lost 2.19% in the past month. In that same time, the Industrial Products sector gained 3.99%, while the S&P 500 gained 4.26%.
The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. The company is expected to report EPS of $3.97, down 12.75% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $9.97 billion, indicating a 7.5% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $18.56 per share and revenue of $38.28 billion. These totals would mark changes of -27.56% and -14.48%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Deere. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.24% decrease. Deere currently has a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Deere has a Forward P/E ratio of 24.94 right now. Its industry sports an average Forward P/E of 20.56, so one might conclude that Deere is trading at a premium comparatively.
Also, we should mention that DE has a PEG ratio of 2.98. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Manufacturing - Farm Equipment industry had an average PEG ratio of 1.75.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 215, this industry ranks in the bottom 13% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.