Deere & Company’s Buy Rating Reaffirmed at TheStreet (DE)
Deere & Company (NYSE: DE)‘s stock had its “buy” rating reiterated by investment analysts at TheStreet in a note issued to investors on Friday.
The analysts wrote, “Deere (DE) has been reiterated by TheStreet Ratings as a buy with a ratings score of A- . The company’s strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, solid stock price performance, impressive record of earnings per share growth and increase in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”
Shares of Deere & Company (NYSE: DE) traded up 0.99% during mid-day trading on Friday, hitting $87.75. Deere & Company has a one year low of $86.65 and a one year high of $92.50. The stock’s 50-day moving average is currently $89.8. The company has a market cap of $34.184 billion and a P/E ratio of 10.86.
Deere & Company (NYSE: DE) last announced its earnings results on Wednesday, February 13th. The company reported $1.65 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.40 by $0.25. The company had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter last year, the company posted $1.30 earnings per share. Deere & Company’s revenue was up 11.0% compared to the same quarter last year. Analysts expect that Deere & Company will post $8.59 EPS for the current fiscal year.
DE has been the subject of a number of other recent research reports. Analysts at Wells Fargo downgraded shares of Deere & Company from a “market perform” rating to an “underperform” rating in a research note to investors on Wednesday. Separately, analysts at UBS AG downgraded shares of Deere & Company from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Deere & Company in a research note to investors on Friday, March 15th. They now have a $97.00 price target on the stock.
Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $98.07.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, May 1st. Shareholders of record on Thursday, March 28th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Tuesday, March 26th. This is a positive change from Deere & Company’s previous quarterly dividend of $0.46.
Deere & Company (NYSE: DE) along with its subsidiaries, operates in three segments: agriculture and turf, construction and forestry and financial services.
To view TheStreet’s full report, visit www.thestreetratings.com
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