Deere & Company (NYSE:DE) Announces Quarterly Earnings Results, Beats Estimates By $0.65 EPS

Deere & Company (NYSE:DE) posted its earnings results on Thursday. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65, RTT News reports. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the business earned $8.26 earnings per share. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year.

Deere & Company Stock Up 2.1 %

Shares of DE opened at $446.65 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $447.50. The company’s fifty day moving average is $406.99 and its two-hundred day moving average is $386.36. The firm has a market cap of $122.20 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company Announces Dividend

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 1.32%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is currently 22.97%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Truist Financial increased their target price on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday. Finally, Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $431.61.

Deere & Company Company Profile

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.