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

Deere & Company (NYSE:DE) issued its quarterly earnings data on Thursday. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the previous year, the firm posted $8.26 earnings per share. Deere & Company’s revenue was down 32.8% on a year-over-year basis.

Deere & Company Trading Up 2.1 %

NYSE:DE opened at $446.65 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.87 and a current ratio of 2.09. Deere & Company has a one year low of $340.20 and a one year high of $447.50. The business’s 50-day simple moving average is $406.99 and its 200 day simple moving average is $386.49. The stock has a market cap of $122.20 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.93.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 22.97%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on DE shares. 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 report on Friday, August 16th. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday. Citigroup lifted their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley lowered their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, BMO Capital Markets started coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $431.61.

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.