Jefferies Group Equities Analysts Raise Earnings Estimates for Deere & Company (DE)
Deere & Company (NYSE:DE) – Jefferies Group increased their FY2017 earnings per share (EPS) estimates for shares of Deere & in a report issued on Thursday. Jefferies Group analyst S. Volkmann now expects that the industrial products company will post earnings of $6.47 per share for the year, up from their previous estimate of $6.25. Jefferies Group has a “Hold” rating and a $125.00 price target on the stock. Jefferies Group also issued estimates for Deere &’s Q1 2018 earnings at $0.80 EPS, Q2 2018 earnings at $2.40 EPS, Q3 2018 earnings at $1.95 EPS and Q4 2018 earnings at $1.60 EPS.
DE has been the topic of a number of other reports. Deutsche Bank AG reiterated a “hold” rating and issued a $139.00 target price (up from $135.00) on shares of Deere & in a research report on Friday, August 11th. TheStreet upgraded Deere & from a “c+” rating to an “a-” rating in a research report on Friday, May 19th. Citigroup Inc. boosted their target price on Deere & from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, May 23rd. Wells Fargo & Company reiterated an “outperform” rating and issued a $140.00 target price (up from $125.00) on shares of Deere & in a research report on Tuesday, May 23rd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Deere & in a research report on Sunday, August 20th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $127.58.
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Shares of Deere & (NYSE:DE) opened at 115.84 on Friday. The company has a market capitalization of $37.16 billion, a PE ratio of 19.24 and a beta of 0.67. Deere & has a 12-month low of $80.35 and a 12-month high of $132.50. The stock’s 50 day moving average price is $125.70 and its 200 day moving average price is $117.56.
Deere & (NYSE:DE) last released its quarterly earnings results on Friday, August 18th. The industrial products company reported $1.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.04. The company had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.92 billion. Deere & had a return on equity of 25.96% and a net margin of 6.81%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Deere & by 5.6% in the second quarter. Vanguard Group Inc. now owns 21,593,762 shares of the industrial products company’s stock valued at $2,668,774,000 after buying an additional 1,153,484 shares during the period. BlackRock Inc. boosted its position in shares of Deere & by 2.5% in the second quarter. BlackRock Inc. now owns 17,125,313 shares of the industrial products company’s stock valued at $2,116,517,000 after buying an additional 409,861 shares during the period. State Street Corp boosted its position in shares of Deere & by 0.4% in the first quarter. State Street Corp now owns 12,267,999 shares of the industrial products company’s stock valued at $1,335,500,000 after buying an additional 45,695 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Deere & by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 6,652,623 shares of the industrial products company’s stock valued at $724,205,000 after buying an additional 322,158 shares during the period. Finally, Capital International Investors boosted its position in shares of Deere & by 14.4% in the second quarter. Capital International Investors now owns 6,506,943 shares of the industrial products company’s stock valued at $804,193,000 after buying an additional 820,991 shares during the period. 67.91% of the stock is currently owned by institutional investors.
In related news, insider Cory J. Reed sold 4,936 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $128.00, for a total value of $631,808.00. Following the transaction, the insider now owns 9,903 shares of the company’s stock, valued at $1,267,584. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Max A. Guinn sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $130.89, for a total value of $654,450.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,380 shares of company stock worth $19,694,934. Company insiders own 0.85% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Friday, June 30th were issued a $0.60 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $2.40 annualized dividend and a dividend yield of 2.07%. Deere &’s payout ratio is 40.20%.
About Deere &
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.
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