Yahoo Finance Deere (DE) Advances While Market Declines: Some Information for Investors
Deere (DE) ended the recent trading session at $378.17, demonstrating a +0.83% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.31%. Meanwhile, the Dow experienced a rise of 0.67%, and the technology-dominated Nasdaq saw a decrease of 1.09%.
The the stock of agricultural equipment manufacturer has risen by 0.02% in the past month, leading the Industrial Products sector's loss of 5.25% and undershooting the S&P 500's gain of 2.73%.
The investment community will be paying close attention to the earnings performance of Deere in its upcoming release. On that day, Deere is projected to report earnings of $5.95 per share, which would represent a year-over-year decline of 41.67%. At the same time, our most recent consensus estimate is projecting a revenue of $11.02 billion, reflecting a 22.84% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $25.61 per share and a revenue of $45.39 billion, indicating changes of -26.05% and -18.31%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications 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 company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.76% fall in the Zacks Consensus EPS estimate. At present, Deere boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Deere is presently being traded at a Forward P/E ratio of 14.65. This signifies a premium in comparison to the average Forward P/E of 11.44 for its industry.
Also, we should mention that DE has a PEG ratio of 1.51. 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 1.51 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 231, which puts it in the bottom 9% 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.
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Deere & Company (DE) : Free Stock Analysis Report
