|Bid||66.04 x 1000|
|Ask||69.98 x 1000|
|Day's Range||66.96 - 67.31|
|52 Week Range||56.27 - 69.58|
|PE Ratio (TTM)||301.57|
|Expense Ratio (net)||N/A|
Well, Credit Suisse analyst Jamie Cook and team don't seem to be. The miss was tied to disappointing incremental margins in the AG segment which were only ~15%, reflecting higher than expected warranty and material costs. Looking into 2018, and assuming sales growth, we still believe DE can put up good AG incrementals, adj.
U.S. factory output falls in July primarily due to declining auto production.
Shares of Deere (DE) are tumbling today after the farm-equipment maker beat earnings and raised its guidance but missed on net-equipment sales. Deere reported a profit of $1.97 a share, beating forecasts for $1.95, on net-equipment sales of $6.83 billion, below forecasts for $6.92 billion. Deere also said it was raising its guidance, but largely because of positive currency impacts.