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4-Traders Homepage  >  Equities  >  Nyse  >  Deere & Company    DE

DEERE & COMPANY (DE)
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Delayed Quote. Delayed  - 04/20 10:00:51 pm
146.96 USD   -0.77%
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Deere mpany : Shares Jump as Demand Improves

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05/19/2017 | 01:55pm CEST
By Austen Hufford 

Deere & Co. sharply raised its sales growth and profit forecasts for this year as the world's largest farm-equipment manufacturer said it saw modestly higher demand.

Shares rose 7% in premarket trading as the company topped profit expectations in its second quarter.

For the year, the company now expects revenue to grow about 9%, up from 4% expected previously, and net income of about $2 billion, up from the $1.5 billion expected before. The spring quarter is typically Deere's best of the year as farmers purchase equipment or replacement parts in advance of the spring planting season.

The Moline, Ill.-based company also said it saw a strong recovery from farm machinery sales in South America and that overall market conditions showed further signs of stabilization.

Still, equipment net sales in the U.S. and Canada fell 5% for the quarter as international sales increased 14%.

For the quarter ended April 30, sales of Deere's farm machinery rose 2.2% from a year earlier to $7.26 billion, as sales of construction and forestry equipment grew 0.9% during the quarter to $1.47 billion.

In all for the second quarter, Deere reported a profit of $802.4 million, or $2.49 a share, up from $495.4 million, or $1.56 a share, a year earlier.

Total revenue rose 2.8% to $8 billion. Total equipment sales for the quarter rose 2.2% to $7.26 billion. Analysts had forecast earnings of $1.68 with $7.32 billion of equipment sales.

Write to Austen Hufford at [email protected]

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Financials ($)
Sales 2018 33 477 M
EBIT 2018 4 192 M
Net income 2018 2 471 M
Debt 2018 35 486 M
Yield 2018 1,73%
P/E ratio 2018 20,21
P/E ratio 2019 13,95
EV / Sales 2018 2,48x
EV / Sales 2019 2,24x
Capitalization 47 584 M
Chart DEERE & COMPANY
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Deere & Company Technical Analysis Chart | DE | US2441991054 | 4-Traders
Technical analysis trends DEERE & COMPANY
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 181 $
Spread / Average Target 23%
EPS Revisions
Managers
NameTitle
Samuel R. Allen Chairman & Chief Executive Officer
Rajesh Kalathur Chief Financial Officer & Senior Vice President
John C. May Chief Information Officer
Vance D. Coffman Independent Director
Clayton M. Jones Independent Director
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