Deere & Company (NYSE:DE) Releases Quarterly Earnings Results, Beats Expectations By $0.65 EPS

Deere & Company (NYSE:DE) announced its quarterly earnings data on Thursday. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.65, RTT News reports. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the prior year, the company earned $8.26 EPS. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis.

Deere & Company Price Performance

Shares of NYSE DE opened at $436.28 on Friday. The stock has a market cap of $119.37 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $442.05. The stock has a fifty day moving average of $405.95 and a 200-day moving average of $386.18. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is currently 20.06%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DE. Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Morgan Stanley cut their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, Citigroup upped their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $420.69.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.