Deere & Company (NYSE:DE) Releases Earnings Results, Beats Estimates By $0.05 EPS

Deere & Company (NYSE:DE) announced its quarterly earnings data on Thursday. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05, Zacks reports. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%.

Deere & Company Stock Performance

DE traded up $11.71 during midday trading on Friday, reaching $477.93. The company had a trading volume of 615,281 shares, compared to its average volume of 1,376,592. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The business has a 50-day moving average of $446.23 and a two-hundred day moving average of $415.49. The company has a market cap of $130.16 billion, a P/E ratio of 18.69, a P/E/G ratio of 2.87 and a beta of 0.98. Deere & Company has a 1 year low of $340.20 and a 1 year high of $485.84.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.36%. Deere & Company’s dividend payout ratio is presently 25.31%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday. Citigroup decreased their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial reissued a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Finally, Barclays lifted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $445.94.

Deere & Company Company Profile

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.