Deere & Company (NYSE: DE) has exciting news for its shareholders as it proudly declares a noteworthy boost in its quarterly dividend. The previous dividend level of $1.25 per share has now escalated to an impressive $1.35 per share, presenting an extra 10 cents per share to stockholders. This remarkable development is set to take effect on November 8, 2023, with stockholders of record on September 29, 2023, being the fortunate beneficiaries.
The decision to increase the dividend is a clear testament to Deere & Company‘s unwavering confidence in its financial performance. By taking this bold step, the company is reaffirming its commitment to delivering value to its esteemed shareholders. As we approach the exciting date of August 30, 2023, Deere & Company continues to make strides in securing a prosperous future for both the company and its valued investors.
Deere & Company
DE
Strong Buy
Updated on: 06/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Deere & Company (DE) Stock Shows Positive Performance with Strong Earnings Growth and Potential for Future Growth
Deere & Company (DE) is a leading manufacturer of trucks, construction, and farm machinery. On August 30, 2023, DE stock showed positive performance, with a slight increase in price and a positive percentage change.
The stock market opened with DE at $405.00, slightly higher than the previous day’s close of $404.10. Throughout the day, the stock’s price fluctuated within a range of $404.95 to $414.04. The trading volume for the day was 870,948.
DE has a market capitalization of $114.4 billion. The company has shown strong earnings growth in the past year, with a growth rate of 22.38%. This year’s earnings growth is even more impressive, standing at 37.05%. Looking ahead, DE is expected to maintain a steady earnings growth rate of 15.10% over the next five years.
The revenue growth for the company in the last year was 19.67%. DE has a price-to-earnings (P/E) ratio of 13.9. The price-to-sales ratio is 2.31. The price-to-book ratio is 5.75.
In terms of other stocks in the same sector, AGCO Corp showed a positive change of +2.81%, Alamo Group Inc had a change of +1.44%, Lindsay Corp increased by +0.65%, and Art’s Way Manufacturing Co. Inc. had a change of +1.31%.
DE’s next reporting date is scheduled for November 22, 2023. Analysts forecast an earnings per share (EPS) of $7.52 for this quarter. The company’s annual revenue for the previous year was $52.5 billion, with an annual profit of $7.1 billion. DE has a net profit margin of 13.58%.
With its headquarters in Moline, Illinois, DE operates in the producer manufacturing sector within the trucks/construction/farm machinery industry.
Overall, DE’s stock performance on August 30, 2023, was positive, showing a slight increase in price and a positive percentage change. The company’s strong earnings and revenue growth, combined with its solid financials, indicate its stability and potential for future growth.
Deere & Co (DE) Stock Analysis: Strong Financial Performance and Positive Outlook for Future Growth
On August 30, 2023, Deere & Co (DE) stock had a last price of 413.76. However, according to the 22 analysts who offered 12-month price forecasts for DE, the median target price was 455.50, with a high estimate of 551.00 and a low estimate of 380.00. This indicates that the analysts expect the stock to increase by +10.09% from its current price.
The consensus among 26 polled investment analysts is to buy stock in Deere & Co.
Deere & Co, commonly known as John Deere, is a leading manufacturer of agricultural machinery and equipment.
Firstly, the current quarter’s earnings per share for DE stand at $7.52, indicating strong profitability. Additionally, the company’s sales for the same period were reported at $13.6 billion, suggesting robust revenue generation.
Investors are likely optimistic about Deere & Co’s future prospects due to the company’s strong financial performance and consistent growth.
Deere & Co’s position as a market leader in the industry gives it a competitive advantage, allowing it to capitalize on this growing demand. The company’s innovative products, strong brand recognition, and extensive distribution network contribute to its success.
Furthermore, Deere & Co has a history of delivering solid financial results and maintaining a strong market position.
In conclusion, based on the information provided, Deere & Co’s stock performance on August 30, 2023, appears to be positive. The median target price forecasted by analysts suggests a potential increase of +10.09% from the last price. The consensus among investment analysts is to buy the stock, reflecting a positive sentiment towards Deere & Co’s future prospects. With strong financial performance, a leading position in the industry, and a positive outlook for the agriculture sector, Deere & Co is well-positioned for continued growth and success.
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