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Deere (DE) Dips More Than Broader Markets: What You Should Know

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Zacks Equity Research
·3 min read
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Deere (DE) closed the most recent trading day at $296.01, moving -0.73% from the previous trading session. This change lagged the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.07%, and the Nasdaq, a tech-heavy index, lost 0.07%.

Wall Street will be looking for positivity from DE as it approaches its next earnings report date. In that report, analysts expect DE to post earnings of $2.11 per share. This would mark year-over-year growth of 29.45%. Our most recent consensus estimate is calling for quarterly revenue of $7.08 billion, up 8.38% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $13.16 per share and revenue of $35.13 billion, which would represent changes of +51.44% and +12.35%, respectively, from the prior year.

Any recent changes to analyst estimates for DE should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.99% higher. DE is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note DE's current valuation metrics, including its Forward P/E ratio of 23.19. This represents a premium compared to its industry's average Forward P/E of 21.15.

Investors should also note that DE has a PEG ratio of 1.45 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 1.79 as of yesterday's close.

The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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