Wall Street’s Views on Deere after Fiscal 3Q17 Earnings
The number of analysts covering Deere (DE) stock has increased from 20 to 21. About 62.0% of them have recommended a “hold” for the stock.
In fiscal 3Q17, Deere’s (DE) Construction & Forestry segment reported revenue of $1.5 billion, a 29.0% rise on a year-over-year basis.
Deere’s (DE) Agriculture & Turf segment reported revenue of $5.3 billion in 3Q17, a 13.6% rise on a year-over-year basis.
For fiscal 3Q17, Deere (DE) reported total revenue of $7.8 billion, which implies a rise of 16.0% on a year-over-year basis.
Deere (DE) announced its fiscal 3Q17 earnings on August 18, 2017, before the market opened. It reported EPS of $1.97, beating analysts’ estimate of $1.91.
As on August 14, Deere’s (DE) one-year forward PE (price-to-earnings) multiple stood at 18.3x, compared with Caterpillar’s (CAT) multiple of 18.8x.
Analysts are expecting Deere (DE) to post EPS earnings per share of $1.91 for fiscal 3Q17, which would be an increase of 23.2% on a YoY basis.
Among the 21 analysts covering DE stock, 43% have recommended a “buy,” while 52% have recommended a “hold. The remaining 5% recommend a “sell.”
Analysts are expecting Deere’s (DE) Equipment operations to post revenue of ~$6.9 billion in 3Q17, which would be an increase of 18.1% on a YoY basis.
In this series, we’ll analyze Deere’s (DE) analyst expectations for fiscal 3Q17 earnings and revenue, as well as its recommendations and latest valuations.
As of June 20, 2017, Deere’s one-year forward PE (price-to-earnings) multiple stood at 18.80x—compared to Caterpillar’s PE multiple at 23.10x.
As of June 20, 2017, 22 analysts from different brokerage firms have been actively tracking Deere (DE) stock—55% of the analysts recommended a “hold.”
As of June 20, 2017, Deere’s (DE) stock price closed at $126.04. With the current dividend rate, Deere’s current dividend yield is 1.90%.
Deere investors are set to receive their third dividend for fiscal 2017. Deere declared a dividend of $0.60 for 3Q17 on the company’s outstanding shares.
So far, Deere’s (DE) shareholders have cherished the run that it has seen in 2017. Deere’s stellar performance caused its stock to rise 22.30%.
As of May 22, 2017, 39.0% of the analysts recommended a “buy” for Deere stock, 43.0% recommended a “hold,” and 18.0% recommended a “sell.”
Deere’s Construction and Forestry segment reported revenue of $1.46 billion in fiscal 2Q17—an increase of 7.4% compared to $1.36 billion in fiscal 2Q16.
Deere’s revenue growth was primarily driven by improved sales outside the US and Canada. Outside this region, its revenue grew 14% during 2Q17.
Deere (DE) announced its fiscal 2Q17 earnings on May 19, 2017, before the market opened. Deere reported EPS of $2.49 and beat analysts’ estimate.
As of May 15, 2017, Wall Street analysts are expecting Deere (DE) to post EPS of $1.67 in fiscal 2Q17. That would be a 7.0% rise year-over-year.