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Deere (DE) Outperforms Broader Market: What You Need to Know
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In the latest trading session, Deere (DE - Free Report) closed at $626.63, marking a +2.18% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.18%. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq gained 2.07%.
Heading into today, shares of the agricultural equipment manufacturer had gained 13.11% over the past month, outpacing the Industrial Products sector's gain of 6.29% and the S&P 500's loss of 2.9%.
Analysts and investors alike will be keeping a close eye on the performance of Deere in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $4.82, marking a 1.47% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $10.83 billion, indicating a 4.55% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $18.13 per share and a revenue of $41.41 billion, demonstrating changes of -2% and +6.42%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Deere. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.27% upward. Deere presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Deere is currently being traded at a Forward P/E ratio of 33.83. This denotes a premium relative to the industry average Forward P/E of 21.9.
We can additionally observe that DE currently boasts a PEG ratio of 2.27. 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. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.25 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 68, putting it in the top 28% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
View the Zacks #1 Rank List
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Deere (DE) Outperforms Broader Market: What You Need to Know
In the latest trading session, Deere (DE - Free Report) closed at $626.63, marking a +2.18% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.18%. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq gained 2.07%.
Heading into today, shares of the agricultural equipment manufacturer had gained 13.11% over the past month, outpacing the Industrial Products sector's gain of 6.29% and the S&P 500's loss of 2.9%.
Analysts and investors alike will be keeping a close eye on the performance of Deere in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $4.82, marking a 1.47% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $10.83 billion, indicating a 4.55% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $18.13 per share and a revenue of $41.41 billion, demonstrating changes of -2% and +6.42%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Deere. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.27% upward. Deere presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Deere is currently being traded at a Forward P/E ratio of 33.83. This denotes a premium relative to the industry average Forward P/E of 21.9.
We can additionally observe that DE currently boasts a PEG ratio of 2.27. 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. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.25 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 68, putting it in the top 28% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.