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Deere (DE) Stock Moves 1.54%: What You Should Know
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In the latest trading session, Deere (DE - Free Report) closed at $474.98, marking a +1.54% move from the previous day. The stock's change was equal to S&P 500. On the other hand, the Dow registered a gain of 0.81%, and the technology-centric Nasdaq increased by 2.27%.
The stock of agricultural equipment manufacturer has risen by 4.8% in the past month, leading the Industrial Products sector's gain of 3.55% and the S&P 500's gain of 0.29%.
The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. On that day, Deere is projected to report earnings of $3.96 per share, which would represent a year-over-year decline of 12.97%. Simultaneously, our latest consensus estimate expects the revenue to be $9.99 billion, showing a 7.69% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $18.57 per share and revenue of $38.31 billion. These totals would mark changes of -27.52% and 0%, 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.95% lower. Deere currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Deere is at present trading with a Forward P/E ratio of 23.4. This represents a premium compared to its industry average Forward P/E of 17.35.
We can additionally observe that DE currently boasts a PEG ratio of 2.79. 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 1.65 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Deere (DE) Stock Moves 1.54%: What You Should Know
In the latest trading session, Deere (DE - Free Report) closed at $474.98, marking a +1.54% move from the previous day. The stock's change was equal to S&P 500. On the other hand, the Dow registered a gain of 0.81%, and the technology-centric Nasdaq increased by 2.27%.
The stock of agricultural equipment manufacturer has risen by 4.8% in the past month, leading the Industrial Products sector's gain of 3.55% and the S&P 500's gain of 0.29%.
The investment community will be closely monitoring the performance of Deere in its forthcoming earnings report. On that day, Deere is projected to report earnings of $3.96 per share, which would represent a year-over-year decline of 12.97%. Simultaneously, our latest consensus estimate expects the revenue to be $9.99 billion, showing a 7.69% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $18.57 per share and revenue of $38.31 billion. These totals would mark changes of -27.52% and 0%, 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.95% lower. Deere currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Deere is at present trading with a Forward P/E ratio of 23.4. This represents a premium compared to its industry average Forward P/E of 17.35.
We can additionally observe that DE currently boasts a PEG ratio of 2.79. 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 1.65 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.