Deere & Company (DE) to Post FY2018 Earnings of $9.30 Per Share, William Blair Forecasts

Deere & Company (NYSE:DE) – Equities researchers at William Blair increased their FY2018 earnings estimates for Deere & Company in a research note issued to investors on Tuesday. William Blair analyst L. De. Maria now expects that the industrial products company will earn $9.30 per share for the year, up from their previous estimate of $8.60.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Friday, February 16th. The industrial products company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.16 by $0.15. Deere & Company had a return on equity of 27.18% and a net margin of 4.57%. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $6.41 billion. During the same period last year, the business posted $0.61 earnings per share. The company’s quarterly revenue was up 27.2% on a year-over-year basis.

DE has been the subject of several other reports. Deutsche Bank raised their price target on Deere & Company from $129.00 to $149.00 and gave the stock a “hold” rating in a research report on Thursday, November 16th. ValuEngine upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Deere & Company from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Thursday, November 2nd. Robert W. Baird upgraded Deere & Company from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, November 21st. Finally, Vetr lowered Deere & Company from a “strong-buy” rating to a “buy” rating and set a $168.58 price target for the company. in a research report on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $170.86.

Deere & Company (NYSE DE) traded up $3.17 on Thursday, hitting $165.26. The stock had a trading volume of 666,937 shares, compared to its average volume of 2,440,392. Deere & Company has a 1-year low of $106.72 and a 1-year high of $175.26. The stock has a market capitalization of $53,263.07, a price-to-earnings ratio of 37.68, a P/E/G ratio of 2.40 and a beta of 0.75. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.69 and a current ratio of 1.98.

Several hedge funds have recently added to or reduced their stakes in the company. Pillar Pacific Capital Management LLC raised its stake in Deere & Company by 0.7% during the fourth quarter. Pillar Pacific Capital Management LLC now owns 46,477 shares of the industrial products company’s stock worth $7,274,000 after acquiring an additional 310 shares during the period. Dupont Capital Management Corp grew its holdings in shares of Deere & Company by 22.8% during the fourth quarter. Dupont Capital Management Corp now owns 1,681 shares of the industrial products company’s stock worth $263,000 after purchasing an additional 312 shares in the last quarter. Advisor Partners LLC grew its holdings in shares of Deere & Company by 4.4% during the fourth quarter. Advisor Partners LLC now owns 7,730 shares of the industrial products company’s stock worth $1,317,000 after purchasing an additional 323 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of Deere & Company by 3.6% during the fourth quarter. Cetera Advisor Networks LLC now owns 10,268 shares of the industrial products company’s stock worth $1,607,000 after purchasing an additional 355 shares in the last quarter. Finally, V Wealth Management LLC grew its holdings in shares of Deere & Company by 6.9% during the fourth quarter. V Wealth Management LLC now owns 5,634 shares of the industrial products company’s stock worth $950,000 after purchasing an additional 364 shares in the last quarter. Institutional investors and hedge funds own 66.24% of the company’s stock.

In other news, VP Mary K.W. Jones sold 20,086 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $172.25, for a total transaction of $3,459,813.50. Following the completion of the sale, the vice president now directly owns 62,299 shares in the company, valued at approximately $10,731,002.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jean H. Gilles sold 32,183 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $165.97, for a total value of $5,341,412.51. The disclosure for this sale can be found here. Insiders have sold 239,872 shares of company stock worth $36,859,369 in the last quarter. Insiders own 0.74% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, December 29th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, December 28th. Deere & Company’s dividend payout ratio (DPR) is currently 54.92%.

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Deere & Company Company Profile

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.

Earnings History and Estimates for Deere & Company (NYSE:DE)

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