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Deere Sales Miss Expectations Despite Strong Growth

18 Août 2017

Deere's shares fell 8.5% to $113.31 in early trading. NY now owns 950 shares of the industrial products company's stock valued at $117,000 after buying an additional 150 shares in the last quarter. LLC's holdings in Deere & were worth $766,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. NY boosted its stake in shares of Deere & by 18.8% in the second quarter. The firm owned 1,284 shares of the industrial products company's stock after buying an additional 200 shares during the period. 90,400 are owned by Quantitative Invest Mngmt Ltd Company.

Strong demand overseas wasn't matched in the US and Canada - Deere's biggest market - where sales grew 11%. The company had revenue of $7.26 billion during the quarter, compared to the consensus estimate of $7.27 billion. Included in the forecast is a positive foreign-currency translation effect of about 1 percent for the full year and about 2 percent in the fourth quarter. Deere & Company has a 52 week low of $76.94 and a 52 week high of $132.50.

Deere reported a profit of $1.97 a share, beating forecasts for $1.95, on net-equipment sales of $6.83 billion, below forecasts for $6.92 billion. Deere & had a return on equity of 24.85% and a net margin of 6.52%.

Looking forward, for the quarter ending Jul-17, 12 analysts have a mean sales target of 6,919.41 million. -Earnings Growth (Y-o-Y): 31.3% -EPS (Q3): $1.97 vs. $1.55 previous year. Equities research analysts anticipate that Deere & Company will post $6.42 earnings per share for the current year. The company announced a dividend paid on Tuesday the 1st of August 2017.

Investors sentiment increased to 0.86 in 2016 Q4. The ex-dividend date of this dividend was Wednesday, June 28th. The dividend yield was $1.90. Deere &'s dividend payout ratio is now 43.24%.

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A number of equities research analysts have issued reports on the stock. Barclays Capital maintained it with "Sell" rating and $82 target in Wednesday, April 19 report. The stock of Deere & Company (NYSE:DE) earned "Buy" rating by Bank of America on Thursday, December 1. Robert W. Baird cut shares of Deere & from an "outperform" rating to a "neutral" rating in a research report on Friday. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the stock. Deere & has a consensus rating of "Hold" and a consensus target price of $123.26.

On 6/16/2017 Cory J Reed, Insider, sold 4,936 with an average share price of $128.00 per share and the total transaction amounting to $631,808.00. Following the transaction, the chief executive officer now directly owns 333,492 shares in the company, valued at approximately $41,686,500.

On 8/7/2017 Jean H Gilles, Insider, sold 8,015 with an average share price of $129.99 per share and the total transaction amounting to $1,041,869.85. The disclosure for this sale can be found here. UBS Asset Management Americas Inc. now owns 771,587 shares of the industrial products company's stock worth $79,503,000 after buying an additional 39,041 shares in the last quarter.

Deere & Company is engaged in equipment operations.

Deere Sales Miss Expectations Despite Strong Growth