Deere & Company (DE) Issues Quarterly Earnings Results, Misses Expectations By $0.22 EPS

Deere & Company (NYSE:DE) released its quarterly earnings results on Friday. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.22), MarketWatch Earnings reports. The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.83 billion. Deere & Company had a net margin of 6.34% and a return on equity of 29.61%. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 earnings per share. Deere & Company updated its FY 2019 guidance to EPS.

Shares of DE opened at $158.99 on Friday. Deere & Company has a 12-month low of $128.32 and a 12-month high of $175.26. The company has a quick ratio of 1.67, a current ratio of 1.92 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $50.86 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.59 and a beta of 0.89.

The company also recently announced a quarterly dividend, which was paid on Friday, February 1st. Shareholders of record on Monday, December 31st were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Friday, December 28th. This is a boost from Deere & Company’s previous quarterly dividend of $0.69. Deere & Company’s dividend payout ratio is presently 32.37%.

In other news, insider John C. May II sold 11,661 shares of the stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $160.21, for a total value of $1,868,208.81. Following the completion of the sale, the insider now owns 55,743 shares of the company’s stock, valued at $8,930,586.03. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Rajesh Kalathur sold 11,133 shares of the stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $151.47, for a total value of $1,686,315.51. Following the completion of the sale, the chief financial officer now directly owns 42,244 shares of the company’s stock, valued at approximately $6,398,698.68. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Advisory Services Network LLC increased its stake in shares of Deere & Company by 18.0% in the fourth quarter. Advisory Services Network LLC now owns 14,915 shares of the industrial products company’s stock valued at $2,225,000 after buying an additional 2,273 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Deere & Company by 1.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 247,190 shares of the industrial products company’s stock valued at $36,873,000 after buying an additional 2,700 shares during the period. CI Investments Inc. increased its stake in shares of Deere & Company by 5.3% in the fourth quarter. CI Investments Inc. now owns 286,700 shares of the industrial products company’s stock valued at $42,767,000 after buying an additional 14,500 shares during the period. Spectrum Financial Alliance Ltd LLC increased its stake in shares of Deere & Company by 2.5% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 43,992 shares of the industrial products company’s stock valued at $6,524,000 after buying an additional 1,058 shares during the period. Finally, Macquarie Group Ltd. increased its stake in shares of Deere & Company by 18.9% in the fourth quarter. Macquarie Group Ltd. now owns 44,255 shares of the industrial products company’s stock valued at $6,601,000 after buying an additional 7,047 shares during the period. 67.39% of the stock is owned by institutional investors.

DE has been the subject of several recent research reports. UBS Group set a $177.00 price target on Deere & Company and gave the company a “buy” rating in a research note on Friday, November 23rd. Robert W. Baird set a $165.00 price target on Deere & Company and gave the company a “buy” rating in a research note on Friday, November 23rd. Zacks Investment Research upgraded Deere & Company from a “hold” rating to a “buy” rating and set a $176.00 price target for the company in a research note on Tuesday, January 15th. Argus upped their target price on Deere & Company from $166.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 9th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $211.00 target price on shares of Deere & Company in a research report on Tuesday, January 8th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $178.20.

TRADEMARK VIOLATION NOTICE: This report was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://sportsperspectives.com/2019/02/17/deere-company-de-issues-quarterly-earnings-results-misses-expectations-by-0-22-eps.html.

Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

Featured Story: What is the LIBOR?

Earnings History for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply