Deere (DE) closed the most recent trading day at $111.15, moving -0.43% from the previous trading session. This change was narrower than the S&P 500's 2.93% loss on the day. Elsewhere, the Dow lost 3.04%, while the tech-heavy Nasdaq lost 0.27%.
Coming into today, shares of the agricultural equipment manufacturer had lost 32.68% in the past month. In that same time, the Industrial Products sector lost 36.58%, while the S&P 500 lost 31.71%.
Wall Street will be looking for positivity from DE as it approaches its next earnings report date. The company is expected to report EPS of $2.84, down 19.32% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.11 billion, down 11.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.47 per share and revenue of $32.33 billion, which would represent changes of -4.73% and -7.32%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for DE. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.29% higher. DE currently has a Zacks Rank of #3 (Hold).
Digging into valuation, DE currently has a Forward P/E ratio of 11.79. Its industry sports an average Forward P/E of 11.13, so we one might conclude that DE is trading at a premium comparatively.
It is also worth noting that DE currently has a PEG ratio of 2.36. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Manufacturing - Farm Equipment industry currently had an average PEG ratio of 2.41 as of yesterday's close.
The Manufacturing - Farm Equipment industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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