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Deere (DE) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Deere (DE - Free Report) closed at $408.64, marking a +0.49% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.92%. Meanwhile, the Dow experienced a drop of 0.96%, and the technology-dominated Nasdaq saw a decrease of 1.6%.
The the stock of agricultural equipment manufacturer has fallen by 1.03% in the past month, leading the Industrial Products sector's loss of 1.22% and undershooting the S&P 500's gain of 2.68%.
Market participants will be closely following the financial results of Deere in its upcoming release. The company's upcoming EPS is projected at $3.90, signifying a 52.78% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $9.34 billion, down 32.35% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $25 per share and a revenue of $45.38 billion, indicating changes of -27.81% and -18.32%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Deere. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.1% lower within the past month. Deere is currently a Zacks Rank #4 (Sell).
Looking at valuation, Deere is presently trading at a Forward P/E ratio of 16.26. This signifies no noticeable deviation in comparison to the average Forward P/E of 16.26 for its industry.
We can additionally observe that DE currently boasts a PEG ratio of 1.36. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Manufacturing - Farm Equipment industry had an average PEG ratio of 1.36.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 209, placing it within the bottom 18% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Deere (DE) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Deere (DE - Free Report) closed at $408.64, marking a +0.49% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.92%. Meanwhile, the Dow experienced a drop of 0.96%, and the technology-dominated Nasdaq saw a decrease of 1.6%.
The the stock of agricultural equipment manufacturer has fallen by 1.03% in the past month, leading the Industrial Products sector's loss of 1.22% and undershooting the S&P 500's gain of 2.68%.
Market participants will be closely following the financial results of Deere in its upcoming release. The company's upcoming EPS is projected at $3.90, signifying a 52.78% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $9.34 billion, down 32.35% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $25 per share and a revenue of $45.38 billion, indicating changes of -27.81% and -18.32%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Deere. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.1% lower within the past month. Deere is currently a Zacks Rank #4 (Sell).
Looking at valuation, Deere is presently trading at a Forward P/E ratio of 16.26. This signifies no noticeable deviation in comparison to the average Forward P/E of 16.26 for its industry.
We can additionally observe that DE currently boasts a PEG ratio of 1.36. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Manufacturing - Farm Equipment industry had an average PEG ratio of 1.36.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 209, placing it within the bottom 18% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.