Deere & Company (DE) Announces Earnings Results, Beats Expectations By $0.15 EPS

Deere & Company (NYSE:DE) posted its quarterly earnings results on Friday, February 16th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.15, Bloomberg Earnings reports. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $6.41 billion. During the same period last year, the company earned $0.61 EPS. The firm’s revenue was up 27.2% on a year-over-year basis.

Deere & Company (DE) opened at $164.03 on Tuesday. Deere & Company has a 1-year low of $106.93 and a 1-year high of $175.26. The company has a current ratio of 1.98, a quick ratio of 1.69 and a debt-to-equity ratio of 2.85. The company has a market capitalization of $54,373.68, a PE ratio of 22.88, a P/E/G ratio of 2.15 and a beta of 0.76.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Thursday, March 29th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Wednesday, March 28th. Deere & Company’s payout ratio is currently 54.92%.

In other news, CEO Samuel R. Allen sold 269,353 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $163.83, for a total transaction of $44,128,101.99. Following the completion of the sale, the chief executive officer now owns 361,166 shares in the company, valued at $59,169,825.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Mary K.W. Jones sold 20,086 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $172.25, for a total value of $3,459,813.50. Following the sale, the vice president now owns 62,299 shares of the company’s stock, valued at approximately $10,731,002.75. The disclosure for this sale can be found here. Insiders have sold 386,813 shares of company stock valued at $63,783,286 in the last quarter. 0.74% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its position in Deere & Company by 5.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 38,634 shares of the industrial products company’s stock valued at $6,047,000 after purchasing an additional 2,071 shares in the last quarter. KCM Investment Advisors LLC increased its holdings in shares of Deere & Company by 2.8% during the fourth quarter. KCM Investment Advisors LLC now owns 13,267 shares of the industrial products company’s stock worth $2,076,000 after buying an additional 364 shares in the last quarter. Colonial Trust Advisors increased its holdings in shares of Deere & Company by 11.0% during the fourth quarter. Colonial Trust Advisors now owns 29,610 shares of the industrial products company’s stock worth $4,634,000 after buying an additional 2,931 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of Deere & Company by 6.8% during the fourth quarter. Xact Kapitalforvaltning AB now owns 55,064 shares of the industrial products company’s stock worth $8,618,000 after buying an additional 3,529 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Deere & Company by 2.5% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 206,957 shares of the industrial products company’s stock worth $32,391,000 after buying an additional 5,003 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Several research analysts have recently issued reports on DE shares. ValuEngine upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Credit Suisse Group restated a “buy” rating and issued a $162.00 price target on shares of Deere & Company in a research report on Thursday, November 23rd. Wells Fargo & Co restated a “buy” rating and issued a $170.00 price target on shares of Deere & Company in a research report on Thursday, November 23rd. Deutsche Bank upgraded Deere & Company from a “hold” rating to a “buy” rating and lifted their target price for the stock from $149.00 to $167.00 in a report on Thursday, November 23rd. Finally, Stifel Nicolaus lifted their target price on Deere & Company to $161.00 and gave the stock a “buy” rating in a report on Monday, November 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $172.07.

COPYRIGHT VIOLATION NOTICE: “Deere & Company (DE) Announces Earnings Results, Beats Expectations By $0.15 EPS” was originally published by Equities Focus and is the sole property of of Equities Focus. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.equitiesfocus.com/2018/03/13/deere-company-de-issues-earnings-results.html.

Deere & Company Company Profile

Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.

Earnings History for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply