Deere Outperformed the Broader Market, Trailed Its Peers
So far in 2017, Deere’s (DE) stock price has made decent gains. As of September 18, 2017, Deere has returned 16.30% and outperformed SPY.
As of September 18, 2017, Deere’s one-year forward PE multiple stands at 16.80x, while Caterpillar’s (CAT) one year-forward PE multiple stands at 19.90x.
Deere’s dividend yield has fallen since 3Q15 due to the lack of dividend growth and considerable growth in its stock price.
For Deere, 33% of the analysts recommended the stock as a “buy,” 62% recommended the stock as a “hold,” and 5% recommended the stock as a “sell.”
Deere’s board has declared the regular quarterly dividend that will be paid on its outstanding shares. Deere will be paying a dividend of $0.60 per share.
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%.