Deere & Company (NYSE:DE) Receives Consensus Rating of “Buy” from Brokerages

Share on StockTwits

Deere & Company (NYSE:DE) has been assigned a consensus recommendation of “Buy” from the twenty brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $172.17.

A number of equities analysts have recently commented on DE shares. Zacks Investment Research raised Deere & Company from a “sell” rating to a “hold” rating and set a $157.00 price target for the company in a report on Wednesday, May 27th. William Blair raised Deere & Company from a “market perform” rating to an “outperform” rating in a report on Thursday, May 28th. Citigroup raised their price target on Deere & Company from $155.00 to $165.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. JPMorgan Chase & Co. raised Deere & Company from an “underweight” rating to a “neutral” rating and set a $140.00 price target for the company in a report on Friday, March 27th. They noted that the move was a valuation call. Finally, Telsey Advisory Group raised Deere & Company from a “market perform” rating to an “outperform” rating in a report on Friday, March 27th.

NYSE DE traded down $0.38 on Thursday, hitting $158.00. 453,690 shares of the stock traded hands, compared to its average volume of 1,360,124. The business’s fifty day moving average is $153.92 and its two-hundred day moving average is $153.75. Deere & Company has a 12 month low of $106.14 and a 12 month high of $181.99. The firm has a market capitalization of $49.65 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 3.73 and a beta of 0.95. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.95 and a current ratio of 2.20.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, May 22nd. The industrial products company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.49. Deere & Company had a return on equity of 23.01% and a net margin of 7.62%. The business had revenue of $8.22 billion during the quarter, compared to analyst estimates of $7.68 billion. During the same period in the prior year, the company earned $3.52 earnings per share. Deere & Company’s revenue was down 19.9% compared to the same quarter last year. Analysts expect that Deere & Company will post 6.08 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $3.04 annualized dividend and a dividend yield of 1.92%. Deere & Company’s dividend payout ratio is currently 30.58%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. increased its holdings in shares of Deere & Company by 0.8% in the fourth quarter. Advisor Group Inc. now owns 27,919 shares of the industrial products company’s stock worth $4,841,000 after buying an additional 214 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of Deere & Company in the fourth quarter worth about $8,337,000. National Pension Service increased its holdings in shares of Deere & Company by 3.6% in the fourth quarter. National Pension Service now owns 380,822 shares of the industrial products company’s stock worth $65,981,000 after buying an additional 13,152 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Deere & Company by 26.4% in the fourth quarter. Alliancebernstein L.P. now owns 683,242 shares of the industrial products company’s stock worth $118,379,000 after buying an additional 142,561 shares during the period. Finally, First Hawaiian Bank purchased a new position in shares of Deere & Company in the first quarter worth about $256,000. Hedge funds and other institutional investors own 66.88% of the company’s stock.

Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

Further Reading: What is the CAC 40 Index?

Analyst Recommendations for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.