Published: Thu, November 23, 2017
Money | By Armando Alvarado

Deere's shares surge after earnings beat estimates

Deere's shares surge after earnings beat estimates

First Eagle Investment Management LLC owned approximately 1.64% of Deere & worth $662,104,000 at the end of the most recent reporting period. Invesco Limited has invested 0.06% in Deere & Company (NYSE:DE). Azimuth Capital Management LLC lifted its holdings in Deere & by 3.3% during the 1st quarter.

Deere's earnings performance beat analysts' estimates of about $1.46 per share for the quarter and $6.60 for the year. Louisiana State Employees Retirement System now owns 18,300 shares of the industrial products company's stock worth $2,262,000 after acquiring an additional 300 shares during the last quarter. Shares have hit a new 52-week high after reaching $143.71 during recent trading action. Arrow Financial Corp grew its stake in shares of Deere & by 5.2% in the second quarter. Ballentine Partners LLC lifted its stake in shares of Deere & by 37.7% in the 3rd quarter.

November 2 investment analysts at BMO Capital Markets left the stock rating at "Buy" with a current price target of $150.00. BidaskClub downgraded Deere & from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc.

Among 28 analysts covering Deere & Company (NYSE:DE), 10 have Buy rating, 4 Sell and 14 Hold. (The) upgraded shares of Deere & from a "buy" rating to a "conviction-buy" rating and set a $129.75 price objective on the stock in a report on Monday, August 7th. For the past month, Deere & Company's stock has been 7.44%, 19.56% for the last quarter, 13.40% for the past six months and 50.85% for the past 52 weeks. RBC Capital Markets maintained Deere & Company (NYSE:DE) rating on Monday, August 21. If you are viewing this piece of content on another website, it was stolen and republished in violation of worldwide copyright and trademark laws.

Deere expects higher demand for large agriculture equipment to push up US and Canadian sales by 5-10 percent in 2018, in contrast to its 2017 projection in mid-August where sales were expected be down about 5 percent.

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Deere shares ballooned $5.81, or 4.2%, Wednesday to $145.04. "We've gone a number of years at very, very low level, so the equipment has begun to age a bit". The company has a current ratio of 2.10, a quick ratio of 1.90 and a debt-to-equity ratio of 2.76. The P/E ratio is now 24.13 and market cap is 46.40B.

Have you taken a look at the chart for Deere & Company (DE) lately?

In terms of earnings per share, 18 analysts have a 1.47 EPS mean target for the quarter ending Oct-17, for the quarter ending Jan-18, 11 analysts have a 0.93 EPS mean target and for the quarter ending Jan-18 there are 21 estimates of 6.50 EPS.

Deere & Company, launched on April 25, 1958, is involved in equipment operations. Wirtgen is expected to add about 12 percent to Deere's sales for the full year and about 6 percent for the first quarter in comparison with 2017. During the same quarter previous year, the firm posted $0.90 EPS. In the last earnings report the EPS was $5.99 with 321.30M shares now outstanding. Investors of record on Friday, September 29th were given a $0.60 dividend. The company was downgraded on Thursday, September 24 by TheStreet. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.72%. Deere &'s dividend payout ratio is 40.20%. The shares were sold at an average price of $127.04, for a total value of $2,806,948.80. Following the completion of the transaction, the insider now owns 49,562 shares in the company, valued at $6,590,754.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The shares were sold on November 2nd for an average price of $134.89. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,684 shares of company stock valued at $13,270,809.

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