$10.15 Billion in Sales Expected for Deere & Company (DE) This Quarter

Brokerages expect Deere & Company (NYSE:DE) to post sales of $10.15 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Deere & Company’s earnings. The highest sales estimate is $10.28 billion and the lowest is $9.92 billion. Deere & Company posted sales of $9.75 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.1%. The business is scheduled to issue its next quarterly earnings report before the market opens on Friday, May 17th.

According to Zacks, analysts expect that Deere & Company will report full-year sales of $35.54 billion for the current financial year, with estimates ranging from $35.10 billion to $35.78 billion. For the next financial year, analysts expect that the company will report sales of $36.98 billion, with estimates ranging from $36.15 billion to $37.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Deere & Company.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Friday, February 15th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.22). Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the previous year, the firm earned $1.31 EPS. The firm’s quarterly revenue was up 16.2% on a year-over-year basis.

A number of research analysts have recently issued reports on the stock. DZ Bank downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Zacks Investment Research raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $176.00 target price on the stock in a research report on Tuesday, January 15th. Credit Suisse Group dropped their target price on shares of Deere & Company from $211.00 to $209.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 19th. Barclays reissued a “buy” rating and set a $180.00 target price on shares of Deere & Company in a research report on Tuesday, February 19th. Finally, Citigroup dropped their target price on shares of Deere & Company from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $179.43.

Shares of Deere & Company stock opened at $165.01 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.68 and a debt-to-equity ratio of 2.46. Deere & Company has a 52-week low of $128.32 and a 52-week high of $169.99. The company has a market capitalization of $52.55 billion, a PE ratio of 17.57, a PEG ratio of 1.73 and a beta of 0.90.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, March 29th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, March 28th. Deere & Company’s dividend payout ratio (DPR) is currently 32.37%.

Several hedge funds have recently added to or reduced their stakes in DE. Vanguard Group Inc raised its position in Deere & Company by 0.9% during the third quarter. Vanguard Group Inc now owns 22,698,615 shares of the industrial products company’s stock worth $3,412,282,000 after acquiring an additional 210,597 shares during the period. Oregon Public Employees Retirement Fund raised its position in Deere & Company by 14,550.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,214,983 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 5,179,386 shares during the period. Norges Bank acquired a new position in Deere & Company during the fourth quarter worth $582,245,000. Northern Trust Corp raised its position in Deere & Company by 2.2% during the fourth quarter. Northern Trust Corp now owns 3,879,566 shares of the industrial products company’s stock worth $578,714,000 after acquiring an additional 83,637 shares during the period. Finally, Geode Capital Management LLC raised its position in Deere & Company by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 3,655,571 shares of the industrial products company’s stock worth $544,229,000 after acquiring an additional 244,266 shares during the period. 68.23% of the stock is currently owned by institutional investors and hedge funds.

About Deere & Company

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.

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