Deere & Company (NYSE:DE) Releases Earnings Results, Beats Expectations By $0.65 EPS

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

Deere & Company Stock Up 1.3 %

Shares of DE opened at $405.11 on Thursday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a market cap of $110.84 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. The company’s 50-day moving average price is $404.97 and its 200 day moving average price is $385.83. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47.

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

DE has been the subject of a number of research reports. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Citigroup increased their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI raised their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Morgan Stanley reduced their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, Truist Financial lifted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.