Sneak Preview of Deere & Company ($DE) 4Q20 Earnings

Deere & Company (NYSE:DE) is expected to report fourth quarter earnings results, before market open, on Wednesday 25th November 2020.

Analysts polled by Thomson Reuters anticipate fourth quarter income of $ 1.49 per share.

Looking ahead, the full year income are expected at $ 7.74 per share on the revenues of $ 30263.30 million.

Previous Quarter Performance

Deere & Company posted income for the third quarter of $ 2.57 per share, from the revenue of $ 8,925.00 million. The quarterly earnings contracted 5.17 percent while revenues fell 0.49 percent compared with the same quarter last year.
Street analysts expected Deere & Company to report income of $ 1.24 per share on revenue of $ 6702.86 million for the third quarter. The bottom line results beat street analysts by $ 1.33 or 107.26 percent, at the same time, top line results outshined analysts by $ 2,222.14 million or 33.15 percent.

Stock Performance

Shares of Deere & Company traded up $ 0.40 or 0.15 percent on Tuesday, reaching $ 261.51 with volume of 2.05 million shares. Deere & Company has traded high as $ 264.17 and has cracked $ 260.01 on the downward trend

According to the previous trading day, closing price of $ 261.51, representing a 146.01 % increase from the 52 week low of $ 106.14 and a 1.79 % decrease over the 52 week high of $ 265.87.

The company has a market capital of $ 81.95 billion and is part of the Industrials sector and Farm & Construction Equipment industry.

Recent Analyst recommendations

  • On 12th October 2020, maintained by Morgan Stanley at Overweight rating, with $ 263.00 target price.

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.