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

Deere & Company (NYSE:DE) posted its earnings results on Thursday. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05, Zacks reports. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%.

Deere & Company Stock Up 3.0 %

DE stock opened at $480.17 on Friday. The stock has a market capitalization of $130.77 billion, a P/E ratio of 18.76, a P/E/G ratio of 2.87 and a beta of 0.98. The firm has a 50-day simple moving average of $446.95 and a 200-day simple moving average of $416.21. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84.

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 paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. Citigroup boosted their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $448.72.

Deere & Company Company Profile

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.