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

Deere & Company (NYSE:DE) released its quarterly earnings results on Thursday. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate 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 stock traded down $5.60 on Thursday, reaching $470.96. The company’s stock had a trading volume of 1,815,357 shares, compared to its average volume of 1,363,170. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The company has a market capitalization of $128.27 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The firm has a fifty day moving average of $445.86 and a two-hundred day moving average of $415.14. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.38%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. Deere & Company’s dividend payout ratio is 25.31%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DE shares. Oppenheimer boosted their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Citigroup cut their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley upped their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $446.17.

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.