Highlights

Deere & Company Given New $105.00 Price Target at Credit Suisse (DE)

 Source: ABMN   |   Publish date: Mon, 24 Aug 2015, 04:08 PM   |    >> Read article in News website

Stock analysts at Credit Suisse hoisted their target price on shares of Deere & Company (NYSE:DE) from $99.00 to $105.00 in a report issued on Monday, Analyst Ratings Net reports. The brokerage currently has an “outperform” rating on the stock. Credit Suisse’s price target indicates a potential upside of 26.07% from the company’s current price.

Several other research firms have also issued reports on DE. Global Hunter Securities raised their price target on shares of Deere & Company from $88.00 to $94.00 in a research note on Saturday, July 18th. Zacks raised shares of Deere & Company from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Wednesday, July 15th. William Blair reaffirmed a “sell” rating and issued a $80.00 price target on shares of Deere & Company in a research note on Wednesday, August 19th. RBC Capital reiterated a “sector perform” rating and set a $90.00 price objective (up from $89.00) on shares of Deere & Company in a report on Tuesday, May 26th. Finally, BMO Capital Markets restated a “market perform” rating and set a $80.00 price target on shares of Deere & Company in a report on Tuesday, May 26th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.89.

Deere & Company (NYSE:DE) traded down 2.144% during trading on Monday, reaching $81.504. The company’s stock had a trading volume of 7,265,753 shares. Deere & Company has a 52 week low of $76.76 and a 52 week high of $98.23. The company has a market cap of $27.21 billion and a P/E ratio of 11.121. The company’s 50 day moving average price is $94.28 and its 200 day moving average price is $91.54.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Friday, August 21st. The company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters consensus estimate of $1.44 by $0.09. The firm had revenue of $6.84 billion for the quarter. During the same quarter last year, the company earned $2.33 EPS. The company’s quarterly revenue was down 21.6% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Company will post $5.59 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Tuesday, June 30th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Friday, June 26th.

In related news, SVP Jean H. Gilles sold 4,463 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $98.21, for a total transaction of $438,311.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider James M. Field sold 28,228 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $95.07, for a total transaction of $2,683,635.96. The disclosure for this sale can be found here.

Deere & Company together with its subsidiaries runs and organized in three major business segments: The turf and agriculture section that distributes and produces a full line of turf and agriculture equipment and related service components. The construction and forestry segment manufactures and distributes a broad array of service components and machines used in building, earthmoving, material handling and timber harvesting. The financial services segment financing leases and sales by John Deere dealers of used and new agriculture and turf equipment and construction and forestry equipment. Furthermore, the financial services section provides wholesale financing to dealers of the foregoing gear, finances operating loans and retail revolving charge accounts and offers extended equipment warranties and crop risk mitigation products. Section sales and revenues represent sales of parts and finance charges, which are predicated on market prices.

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