Q3 2023 EPS Estimates for Deere & Company (NYSE:DE) Reduced by William Blair

Deere & Company (NYSE:DE – Get Rating) – Stock analysts at William Blair decreased their Q3 2023 earnings estimates for shares of Deere & Company in a research report issued to clients and investors on Monday, May 22nd. William Blair analyst L. De. Maria now expects that the industrial products company will post earnings per share of $8.00 for the quarter, down from their prior estimate of $8.83. The consensus estimate for Deere & Company’s current full-year earnings is $31.58 per share. William Blair also issued estimates for Deere & Company’s FY2024 earnings at $34.00 EPS.

A number of other research analysts also recently issued reports on the stock. Oppenheimer reduced their price target on shares of Deere & Company from $492.00 to $436.00 in a research report on Monday. Argus raised their price target on shares of Deere & Company from $475.00 to $485.00 and gave the stock a “buy” rating in a research report on Tuesday, February 21st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Deere & Company from $440.00 to $392.00 in a research report on Monday. Wells Fargo & Company reduced their price target on shares of Deere & Company from $510.00 to $490.00 in a research report on Monday. Finally, Evercore ISI reduced their price target on shares of Deere & Company from $455.00 to $418.00 in a research report on Tuesday, May 9th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus target price of $443.86.

Deere & Company Price Performance

Shares of DE stock opened at $354.88 on Wednesday. The firm has a market cap of $105.16 billion, a P/E ratio of 11.91, a P/E/G ratio of 0.89 and a beta of 1.03. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.96 and a quick ratio of 1.70. Deere & Company has a 1-year low of $283.81 and a 1-year high of $448.40. The firm has a fifty day moving average of $382.18 and a two-hundred day moving average of $408.66.

Deere & Company (NYSE:DE – Get Rating) last announced its quarterly earnings data on Friday, May 19th. The industrial products company reported $9.65 earnings per share for the quarter, topping the consensus estimate of $8.57 by $1.08. The company had revenue of $16.08 billion during the quarter, compared to analyst estimates of $14.87 billion. Deere & Company had a net margin of 15.00% and a return on equity of 43.11%. The firm’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same period last year, the business earned $6.81 EPS.

Hedge Funds Weigh In On Deere & Company

Several hedge funds have recently made changes to their positions in DE. RB Capital Management LLC grew its stake in shares of Deere & Company by 5.2% in the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after purchasing an additional 81 shares during the last quarter. Bornite Capital Management LP acquired a new position in shares of Deere & Company in the 1st quarter worth approximately $14,541,000. Retirement Income Solutions Inc acquired a new position in shares of Deere & Company in the 1st quarter worth approximately $229,000. Sequoia Financial Advisors LLC grew its stake in shares of Deere & Company by 27.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after purchasing an additional 521 shares during the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after purchasing an additional 27,985 shares during the last quarter. Institutional investors and hedge funds own 75.72% of the company’s stock.

About Deere & Company

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Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.