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

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

Deere & Company Price Performance

Shares of NYSE DE opened at $405.11 on Thursday. The firm has a market capitalization of $110.84 billion, a P/E ratio of 13.82, a PEG 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. The company’s fifty day moving average is $404.97 and its two-hundred day moving average is $385.83. Deere & Company has a one year low of $340.20 and a one year high of $420.47.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. Evercore ISI lifted their target price 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. Truist Financial boosted their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup raised their target price 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. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $420.69.

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.