Q1 2024 EPS Estimates for Deere & Company Lifted by Zacks Research (NYSE:DE)

Posted by Defense World Staff on Jun 23rd, 2023

Deere & Company (NYSE:DE – Get Rating) – Stock analysts at Zacks Research lifted their Q1 2024 EPS estimates for shares of Deere & Company in a research note issued to investors on Monday, June 19th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings of $6.21 per share for the quarter, up from their previous forecast of $5.21. The consensus estimate for Deere & Company’s current full-year earnings is $31.91 per share. Zacks Research also issued estimates for Deere & Company’s Q2 2024 earnings at $8.35 EPS, Q3 2024 earnings at $7.44 EPS, Q4 2024 earnings at $8.12 EPS, FY2024 earnings at $30.12 EPS, Q1 2025 earnings at $6.29 EPS, Q2 2025 earnings at $7.27 EPS and FY2025 earnings at $27.73 EPS.

Deere & Company (NYSE:DE – Get Rating) last posted its quarterly earnings results on Friday, May 19th. The industrial products company reported $9.65 EPS for the quarter, topping the consensus estimate of $8.57 by $1.08. Deere & Company had a return on equity of 43.11% and a net margin of 15.00%. The business had revenue of $16.08 billion for the quarter, compared to analyst estimates of $14.87 billion. During the same quarter in the previous year, the firm earned $6.81 EPS. The company’s quarterly revenue was up 33.6% compared to the same quarter last year.

Several other equities analysts have also commented on the stock. Wells Fargo & Company decreased their price objective on shares of Deere & Company from $510.00 to $490.00 in a report on Monday, May 22nd. DA Davidson reduced their target price on shares of Deere & Company from $520.00 to $492.00 in a report on Monday, May 22nd. Citigroup lowered their price target on Deere & Company from $505.00 to $460.00 in a report on Tuesday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $440.00 to $392.00 in a report on Monday, May 22nd. Finally, Bank of America decreased their price objective on Deere & Company from $484.00 to $416.00 in a report on Sunday, May 21st. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $442.67.

Deere & Company Stock Down 0.2 %

DE stock opened at $415.69 on Thursday. The firm has a market cap of $121.88 billion, a PE ratio of 13.95, a PEG ratio of 0.99 and a beta of 1.03. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.70 and a current ratio of 1.96. Deere & Company has a one year low of $283.81 and a one year high of $448.40. The firm’s 50 day moving average price is $379.09 and its 200-day moving average price is $403.41.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 8th. Investors of record on Friday, June 30th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Thursday, June 29th. Deere & Company’s dividend payout ratio is currently 16.78%.

Insider Activity at Deere & Company

In related news, insider Pentz Markwart Von sold 7,110 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $356.69, for a total value of $2,536,065.90. Following the sale, the insider now directly owns 57,115 shares in the company, valued at approximately $20,372,349.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Pentz Markwart Von sold 7,110 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $356.69, for a total value of $2,536,065.90. Following the sale, the insider now owns 57,115 shares of the company’s stock, valued at approximately $20,372,349.35. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Tami A. Erwin bought 675 shares of the stock in a transaction on Tuesday, June 6th. The shares were bought at an average price of $371.05 per share, for a total transaction of $250,458.75. Following the acquisition, the director now owns 950 shares in the company, valued at approximately $352,497.50. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Deere & Company

Institutional investors have recently added to or reduced their stakes in the business. Paragon Wealth Strategies LLC acquired a new position in Deere & Company in the fourth quarter valued at $26,000. University of Texas Texas AM Investment Managment Co. raised its holdings in Deere & Company by 1,475.0% in the first quarter. University of Texas Texas AM Investment Managment Co. now owns 63 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the period. Worth Asset Management LLC acquired a new position in Deere & Company during the first quarter valued at approximately $28,000. Lansing Street Advisors grew its stake in Deere & Company by 1,725.0% during the first quarter. Lansing Street Advisors now owns 73 shares of the industrial products company’s stock worth $30,000 after buying an additional 69 shares during the period. Finally, Barrett & Company Inc. acquired a new stake in shares of Deere & Company in the first quarter worth $31,000. 71.33% of the stock is currently owned by institutional investors and hedge funds.

About Deere & Company

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Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.