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

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

Deere & Company Price Performance

Shares of Deere & Company stock opened at $436.28 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $442.05. The stock’s fifty day moving average is $405.95 and its 200 day moving average is $386.18. The stock has a market cap of $119.37 billion, a P/E ratio of 14.89, a P/E/G ratio of 1.54 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.35%. Deere & Company’s dividend payout ratio is currently 20.06%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore ISI boosted their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Bank of America boosted their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Truist Financial boosted their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, 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.