Is Deere Stock Fully Valued At $380?
Deere (NYSE: DE) recently reported its Q3 fiscal 2024 results (fiscal ends in October), with revenues and earnings exceeding the street estimates. The company reported equipment revenue of $11.8 billion and earnings of $6.29 per share, compared to the consensus estimates of $10.9 billion and $5.68, respectively.
Deere & Company Can Set New Highs This Year
As murky as the outlook for farming and construction equipment is, Deere & Company's DE operational quality and capital return have its stock price on track to hit a fresh high soon. The critical details from the Q3 release include top and bottom-line strengths, favorable guidance despite challenging conditions, robust capital return, and a pledge to continue working on costs.
Despite Excellent Results, This Magnificent Dividend Stock Is Hovering Around a Two-Year Low. Here's Why It Has Become Too Cheap to Ignore.
Deere's results look poor relative to its record growth. But zoom out, and it is doing incredibly well compared to pre-pandemic levels.
Deere: Board The Tractor Now
Q3 EPS beat consensus by 12% and management affirmed its 24E net income guidance of ~$7B, pointing to a bottoming agri cycle and removing a major overhang on shares. Profitability came in much better than expected, with margins in Large Ag at ~23% as strong pricing partially offsets volumes. Unchanged segment guidance leaves upside room for Q4 and FY24. Remain Overweight and raise PT by 6% to $505/share, as significantly better margins in the Ag segments offset a slightly weaker Construction business.
Deere Rebounds on Earnings Beat, But Uphill Battle Remains
Deere & Company NYSE: DE shares bounced upward by more than 6% following a better-than-expected fiscal third-quarter earnings report, although the company continues to face significant industry headwinds. Cost-cutting measures have been successful insofar as the maker of agricultural and forestry equipment maintained its profit outlook for the year.
These Analysts Boost Their Forecasts On Deere Following Upbeat Earnings
Deere & Co DE reported better-than-expected third-quarter results and reaffirmed its net income 2024 outlook on Thursday.
I'm Buying Much More As Deere Surprises When It Matters Most
Deere & Company benefits from global tailwinds, market leadership, and resilient dividend growth. Despite short-term headwinds, Deere is positioned for a rebound with proactive measures and advanced technology integration. Analysts are cautious about Deere's future, but the company's long-term potential and current valuation make it an attractive investment.
Deere & Company (DE) Q3 2024 Earnings Call Transcript
Deere & Company (NYSE:DE ) Q3 2024 Results Conference Call August 15, 2024 10:00 AM ET Company Participants Josh Beal - Director of IR Josh Rohleder - Manager of Investor Communications John May - Chief Executive Officer Luke Gakstatter - SVP Ag and Turf Sales & Marketing for Americas & Australia Josh Jepsen - CFO Conference Call Participants Jamie Cook - Truist Securities Angel Castillo - Morgan Stanley Tami Zakaria - JPMorgan Jerry Revich - Goldman Sachs David Raso - Evercore ISI Kristen Owen - Oppenheimer Joel Jackson - BMO Capital Markets Mig Dobre - Baird Chad Dillard - Bernstein Operator Good morning, and welcome to Deere & Company Third Quarter Earnings Conference Call. Your lines have been placed on listen-only mode, until the question-and-answer session of today's conference.
Deere's Q3 Earnings: When Bad News Is Good News
Deere's earnings report showed declining net income and EPS, but sales beat expectations and the dividend appears to be safe. Despite weakening sales and cash flow, Deere remains a long-term buy due to industry leadership and potential for future demand uptick. Deere's valuation is below market average, with a healthy FCF yield and strong profitability, positioning the company well for future cycles.
Deere surges 4% on Q3 earnings beat despite revenue decline: Here's why
Deere & Co. saw its stock rise following strong earnings, with the company recently making headlines for shunning its woke policies.
Deere (DE) Q3 Earnings Top Estimates, Fall Y/Y on Low Volumes
Deere (DE) expects net income for fiscal 2024 to be $7 billion, which implies a year-over-year decline of 31%, anticipating weak demand in its end markets.
Deere (DE) Reports Q3 Earnings: What Key Metrics Have to Say
The headline numbers for Deere (DE) give insight into how the company performed in the quarter ended July 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
