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The latest trading session saw Deere (DE - Free Report) ending at $405.48, denoting a +1.3% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 0.6%.
The the stock of agricultural equipment manufacturer has risen by 3.35% in the past month, lagging the Industrial Products sector's gain of 8.36% and the S&P 500's gain of 6.41%.
The investment community will be paying close attention to the earnings performance of Deere in its upcoming release. It is anticipated that the company will report an EPS of $3.97, marking a 51.94% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $9.37 billion, indicating a 32.12% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $25.03 per share and revenue of $45.33 billion, indicating changes of -27.72% and -18.42%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Deere. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% lower. At present, Deere boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Deere is presently trading at a Forward P/E ratio of 15.99. Its industry sports an average Forward P/E of 15.99, so one might conclude that Deere is trading at no noticeable deviation comparatively.
It is also worth noting that DE currently has a PEG ratio of 1.33. 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 was holding an average PEG ratio of 1.33 at yesterday's closing price.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 173, this industry ranks in the bottom 32% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Deere (DE) Laps the Stock Market: Here's Why
The latest trading session saw Deere (DE - Free Report) ending at $405.48, denoting a +1.3% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 0.6%.
The the stock of agricultural equipment manufacturer has risen by 3.35% in the past month, lagging the Industrial Products sector's gain of 8.36% and the S&P 500's gain of 6.41%.
The investment community will be paying close attention to the earnings performance of Deere in its upcoming release. It is anticipated that the company will report an EPS of $3.97, marking a 51.94% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $9.37 billion, indicating a 32.12% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $25.03 per share and revenue of $45.33 billion, indicating changes of -27.72% and -18.42%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Deere. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% lower. At present, Deere boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Deere is presently trading at a Forward P/E ratio of 15.99. Its industry sports an average Forward P/E of 15.99, so one might conclude that Deere is trading at no noticeable deviation comparatively.
It is also worth noting that DE currently has a PEG ratio of 1.33. 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 was holding an average PEG ratio of 1.33 at yesterday's closing price.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 173, this industry ranks in the bottom 32% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.