Deere & Company (NYSE:DE) Expected to Announce Quarterly Sales of $9.30 Billion

Wall Street analysts expect Deere & Company (NYSE:DE) to report $9.30 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Deere & Company’s earnings, with the lowest sales estimate coming in at $9.19 billion and the highest estimate coming in at $9.36 billion. Deere & Company reported sales of $9.29 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 0.1%. The company is expected to announce its next quarterly earnings report before the market opens on Friday, August 16th.

According to Zacks, analysts expect that Deere & Company will report full-year sales of $34.93 billion for the current year, with estimates ranging from $34.70 billion to $35.06 billion. For the next fiscal year, analysts expect that the company will post sales of $36.54 billion, with estimates ranging from $35.89 billion to $37.14 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Deere & Company.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Friday, May 17th. The industrial products company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.57 by ($0.05). Deere & Company had a net margin of 8.52% and a return on equity of 28.76%. The business had revenue of $10.27 billion during the quarter, compared to analysts’ expectations of $10.19 billion. During the same period last year, the company earned $3.14 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis.

Several equities analysts recently issued reports on DE shares. JPMorgan Chase & Co. downgraded shares of Deere & Company from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $154.00 to $132.00 in a research note on Tuesday, May 14th. Deutsche Bank reduced their price objective on shares of Deere & Company from $159.00 to $148.00 and set a “hold” rating on the stock in a research note on Monday, May 20th. BMO Capital Markets reissued an “outperform” rating and set a $175.00 price objective (down previously from $195.00) on shares of Deere & Company in a research note on Monday, May 27th. Morgan Stanley upped their price objective on shares of Deere & Company from $158.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. Finally, Stifel Nicolaus reduced their price objective on shares of Deere & Company from $180.00 to $171.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Deere & Company has a consensus rating of “Hold” and a consensus price target of $168.61.

In related news, COO John C. May II sold 5,228 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $170.00, for a total transaction of $888,760.00. Following the completion of the transaction, the chief operating officer now owns 49,310 shares of the company’s stock, valued at $8,382,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John C. May II sold 16,468 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $163.21, for a total transaction of $2,687,742.28. Following the transaction, the chief operating officer now directly owns 60,550 shares of the company’s stock, valued at approximately $9,882,365.50. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Private Ocean LLC increased its position in shares of Deere & Company by 560.0% in the first quarter. Private Ocean LLC now owns 198 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 168 shares in the last quarter. Ellis Investment Partners LLC acquired a new stake in shares of Deere & Company in the first quarter worth $33,000. Arcus Capital Partners LLC acquired a new stake in shares of Deere & Company in the second quarter worth $33,000. Orrstown Financial Services Inc. increased its position in shares of Deere & Company by 116.0% in the second quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 116 shares in the last quarter. Finally, Field & Main Bank acquired a new stake in shares of Deere & Company in the first quarter worth $40,000. 68.04% of the stock is owned by institutional investors.

Shares of DE traded down $2.51 on Friday, hitting $158.70. 2,270,178 shares of the stock traded hands, compared to its average volume of 1,595,420. The company has a quick ratio of 1.66, a current ratio of 1.94 and a debt-to-equity ratio of 2.37. The stock has a market cap of $50.31 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 2.04 and a beta of 1.10. The firm has a 50 day moving average price of $163.89. Deere & Company has a 1 year low of $128.32 and a 1 year high of $171.22.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, June 28th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, June 27th. Deere & Company’s dividend payout ratio (DPR) is 32.37%.

Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Earnings History and Estimates for Deere & Company (NYSE:DE)

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