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Deere (DE) Falls More Steeply Than Broader Market: What Investors Need to Know
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Deere (DE - Free Report) closed at $475.20 in the latest trading session, marking a -2.22% move from the prior day. This move lagged the S&P 500's daily loss of 0.34%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq added 0.16%.
Shares of the agricultural equipment manufacturer witnessed a gain of 4.99% over the previous month, beating the performance of the Industrial Products sector with its gain of 3.18%, and the S&P 500's gain of 1.19%.
The upcoming earnings release of Deere will be of great interest to investors. On that day, Deere is projected to report earnings of $1.9 per share, which would represent a year-over-year decline of 40.44%. Alongside, our most recent consensus estimate is anticipating revenue of $7.6 billion, indicating a 11.67% upward movement from the same quarter last year.
DE's full-year Zacks Consensus Estimates are calling for earnings of $17.51 per share and revenue of $39.99 billion. These results would represent year-over-year changes of -5.35% and +2.77%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Deere. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 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 witnessed a 0.85% decrease. Deere is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Deere is holding a Forward P/E ratio of 27.76. This valuation marks a premium compared to its industry average Forward P/E of 19.15.
We can additionally observe that DE currently boasts a PEG ratio of 1.86. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Manufacturing - Farm Equipment industry held an average PEG ratio of 1.86.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 211, finds itself in the bottom 14% echelons of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Deere (DE) Falls More Steeply Than Broader Market: What Investors Need to Know
Deere (DE - Free Report) closed at $475.20 in the latest trading session, marking a -2.22% move from the prior day. This move lagged the S&P 500's daily loss of 0.34%. Elsewhere, the Dow lost 0.94%, while the tech-heavy Nasdaq added 0.16%.
Shares of the agricultural equipment manufacturer witnessed a gain of 4.99% over the previous month, beating the performance of the Industrial Products sector with its gain of 3.18%, and the S&P 500's gain of 1.19%.
The upcoming earnings release of Deere will be of great interest to investors. On that day, Deere is projected to report earnings of $1.9 per share, which would represent a year-over-year decline of 40.44%. Alongside, our most recent consensus estimate is anticipating revenue of $7.6 billion, indicating a 11.67% upward movement from the same quarter last year.
DE's full-year Zacks Consensus Estimates are calling for earnings of $17.51 per share and revenue of $39.99 billion. These results would represent year-over-year changes of -5.35% and +2.77%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Deere. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 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 witnessed a 0.85% decrease. Deere is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Deere is holding a Forward P/E ratio of 27.76. This valuation marks a premium compared to its industry average Forward P/E of 19.15.
We can additionally observe that DE currently boasts a PEG ratio of 1.86. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Manufacturing - Farm Equipment industry held an average PEG ratio of 1.86.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 211, finds itself in the bottom 14% echelons of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.