As of September 19, 2023, Deere’s short percent of float has experienced a notable increase of 8.22% since its last report. The company has recently disclosed that they have sold short a total of 2.28 million shares, accounting for approximately 0.79% of all regular shares available for trading. Considering the trading volume, it is estimated that traders would require an average of 1.19 days to cover their short positions. Monitoring short interest is crucial as it can serve as an indicator of market sentiment towards a specific stock. An upsurge in short interest may indicate a more pessimistic outlook from investors, whereas a decline in short interest may suggest a more optimistic sentiment. Comparatively, Deere’s current short interest of 0.79% is lower than the average short interest of their peer group, which stands at 1.26%, according to Benzinga Pro.
Deere & Company
DE
Strong Buy
Updated on: 19/09/2023
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 Stock Analysis: Decline in Price on September 19, 2023, but Strong Financials and Growth Outlook Offer Potential for Future Gains
On September 19, 2023, Deere & Company (DE) stock opened at $402.59, lower than the previous close of $410.84. Throughout the trading day, the stock’s price fluctuated between a low of $398.45 and a high of $403.09. The trading volume for the day was 1,957,378 shares, higher than the average volume of 1,647,053 shares over the past three months. Deere & Company has a market capitalization of $118.7 billion.
Deere & Company, commonly known as John Deere, is a leading manufacturer of trucks, construction equipment, and farm machinery. The company has shown strong financial performance in recent years, with impressive earnings and revenue growth rates. In the last year, Deere & Company achieved an earnings growth rate of 22.38%, while this year’s earnings growth rate stands at 37.05%. Analysts expect the company to maintain a solid earnings growth rate of 15.10% over the next five years.
The revenue growth rate for Deere & Company in the last year was 19.67%, indicating the company’s ability to generate higher sales. With a price-to-earnings (P/E) ratio of 11.8, the stock is considered relatively undervalued compared to its earnings. The price/sales ratio is 2.31, suggesting that investors are willing to pay $2.31 for every dollar of sales generated by the company. The price/book ratio, which compares the stock’s market value to its book value, is 6.08.
On September 19, 2023, DE stock experienced a decline of $3.14, resulting in a percentage change of -2.55%. This decrease in stock price may have been influenced by various factors, including market conditions, industry trends, or company-specific news.
In terms of the company’s financial outlook, Deere & Company is scheduled to report its next earnings on November 22, 2023. Analysts have forecasted an earnings per share (EPS) of $7.52 for this quarter. In the previous year, Deere & Company achieved an annual revenue of $52.5 billion and a profit of $7.1 billion. The company’s net profit margin stands at 13.58%, indicating its ability to generate profit from its operations.
Deere & Company operates in the producer manufacturing sector, specifically in the trucks/construction/farm machinery industry. The company’s corporate headquarters are located in Moline, Illinois.
Investors and analysts closely monitor the performance of Deere & Company as it is a prominent player in the manufacturing industry. The stock’s performance on September 19, 2023, reflects a decline, but the company’s strong financials and positive growth outlook may provide opportunities for future gains.
Deere & Co Stock Analysis: Positive Sentiment and Projected Increase in Price make it a Promising Investment Opportunity
On September 19, 2023, Deere & Co (DE) stock had a median target price of $452.90, according to 22 analysts offering 12-month price forecasts. The high estimate was $530.00, while the low estimate was $380.00. This median estimate indicated a potential increase of 13.55% from the last recorded price of $398.85.
The consensus among 26 polled investment analysts was to buy stock in Deere & Co. This rating has remained unchanged since September, suggesting a consistent positive sentiment towards the company’s performance.
Deere & Co is a well-known company in the agricultural machinery industry. It manufactures and distributes a wide range of equipment used in farming and construction.
The positive sentiment among analysts and the projected increase in stock price indicate that investors have confidence in Deere & Co’s future performance. This confidence is likely based on several factors, including the company’s strong financials and its position in the market.
In the current quarter, Deere & Co reported earnings per share of $7.52 and sales of $13.6 billion. These figures demonstrate the company’s ability to generate revenue and deliver profits to its shareholders. The reported earnings per share also exceeded market expectations, further contributing to the positive sentiment surrounding the stock.
Investors are eagerly awaiting the next reporting date, which is scheduled for November 22. This date will provide further insights into Deere & Co’s financial performance and may impact the stock’s future trajectory.
Overall, the information provided suggests that Deere & Co stock has performed well on September 19, 2023. The positive sentiment among analysts, the projected increase in stock price, and the company’s strong financials all contribute to the belief that Deere & Co is a promising investment opportunity. However, investors should continue to monitor the company’s performance and stay updated on any new developments that may impact the stock’s performance.
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