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Deere (DE) Advances While Market Declines: Some Information for Investors
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Deere (DE - Free Report) ended the recent trading session at $598.59, demonstrating a +1.59% change from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.37%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq lost 1.33%.
The agricultural equipment manufacturer's stock has climbed by 11.36% in the past month, exceeding the Industrial Products sector's gain of 10.23% and the S&P 500's gain of 2.02%.
The upcoming earnings release of Deere will be of great interest to investors. The company is predicted to post an EPS of $4.82, indicating a 1.47% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $10.83 billion, indicating a 4.55% growth compared to the corresponding quarter of the prior year.
DE's full-year Zacks Consensus Estimates are calling for earnings of $18.13 per share and revenue of $41.41 billion. These results would represent year-over-year changes of -2% and +6.42%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Deere. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 0.67% increase. As of now, Deere holds a Zacks Rank of #3 (Hold).
Looking at valuation, Deere is presently trading at a Forward P/E ratio of 32.5. This valuation marks a premium compared to its industry average Forward P/E of 21.03.
Investors should also note that DE has a PEG ratio of 2.18 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.19 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 105, finds itself in the top 44% echelons of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Deere (DE) Advances While Market Declines: Some Information for Investors
Deere (DE - Free Report) ended the recent trading session at $598.59, demonstrating a +1.59% change from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.37%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq lost 1.33%.
The agricultural equipment manufacturer's stock has climbed by 11.36% in the past month, exceeding the Industrial Products sector's gain of 10.23% and the S&P 500's gain of 2.02%.
The upcoming earnings release of Deere will be of great interest to investors. The company is predicted to post an EPS of $4.82, indicating a 1.47% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $10.83 billion, indicating a 4.55% growth compared to the corresponding quarter of the prior year.
DE's full-year Zacks Consensus Estimates are calling for earnings of $18.13 per share and revenue of $41.41 billion. These results would represent year-over-year changes of -2% and +6.42%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Deere. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 0.67% increase. As of now, Deere holds a Zacks Rank of #3 (Hold).
Looking at valuation, Deere is presently trading at a Forward P/E ratio of 32.5. This valuation marks a premium compared to its industry average Forward P/E of 21.03.
Investors should also note that DE has a PEG ratio of 2.18 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.19 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 105, finds itself in the top 44% echelons of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.