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

Deere & Company (NYSE:DE) released its quarterly earnings data on Thursday. The industrial products company reported $3.19 earnings per share for the quarter, beating 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 Down 1.2 %

Shares of NYSE DE traded down $5.60 on Thursday, hitting $470.96. The company had a trading volume of 1,815,357 shares, compared to its average volume of 1,363,170. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84. The business has a 50 day moving average of $445.86 and a two-hundred day moving average of $415.14. 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 firm has a market capitalization of $128.27 billion, a P/E ratio of 18.44, a PEG ratio of 2.87 and a beta of 0.98.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were given a $1.62 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.38%. Deere & Company’s dividend payout ratio is presently 25.31%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Citigroup dropped their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday. Barclays upped their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. UBS Group raised their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. 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, Deere & Company currently has an average rating of “Hold” and an average target price of $446.17.

About Deere & Company

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.