Deere & Company (NYSE:DE) Posts Quarterly Earnings Results

Deere & Company (NYSE:DE) issued its earnings results on Thursday. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.65, RTT News reports. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period in the prior year, the business posted $8.26 earnings per share. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year.

Deere & Company Trading Up 1.3 %

DE stock opened at $405.11 on Thursday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $110.84 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.54 and a beta of 0.93. The business has a fifty day simple moving average of $404.97 and a 200-day simple moving average of $385.83. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is currently 20.06%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America increased their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Evercore ISI increased their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and an average target price of $420.69.

About Deere & Company

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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.