Deere reported net income for the quarter ending Oct. 30 of $7.44 a share, which surpassed the FactSet consensus of $7.11 a share. Earnings were $4.12 a share in the year-ago quarter.
Total revenue climbed +37.2% year-over-year to $15.54 billion, well above Wall Street expectations of $14.40 billion (according to FactSet). Price realization was positive by about 19 percentage points, thereby offsetting a three-point adverse impact from a higher U.S. dollar.
Operating profit as a percentage of revenue rose to 18.6% from 14.2%.
For full year 2023, the company expects sales for its largest production and precision agriculture segment to grow 15-20%, and that for small agriculture and turf sales to be flat to up 5%, and for construction and forestry to increase about 10%. Consensus expectations for production and precision agriculture is + 13.4%, small agriculture and turf is a decrease of -0.5% ,and for construction and forestry is grow 6.1%.
DE's Aroon Indicator triggered a bullish signal on March 27, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 280 similar instances where the Aroon Indicator showed a similar pattern. In of the 280 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
The Momentum Indicator moved above the 0 level on March 01, 2024. You may want to consider a long position or call options on DE as a result. In of 90 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for DE just turned positive on March 04, 2024. Looking at past instances where DE's MACD turned positive, the stock continued to rise in of 50 cases over the following month. The odds of a continued upward trend are .
DE moved above its 50-day moving average on March 14, 2024 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for DE crossed bullishly above the 50-day moving average on March 20, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 14 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where DE advanced for three days, in of 343 cases, the price rose further within the following month. The odds of a continued upward trend are .
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 6 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 17 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where DE declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
DE broke above its upper Bollinger Band on March 19, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 64, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. DE’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: DE's P/B Ratio (5.159) is slightly higher than the industry average of (1.960). P/E Ratio (11.925) is within average values for comparable stocks, (23.930). Projected Growth (PEG Ratio) (2.344) is also within normal values, averaging (2.907). Dividend Yield (0.014) settles around the average of (0.033) among similar stocks. P/S Ratio (1.981) is also within normal values, averaging (108.396).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of agricultural, industrial, commercial and consumer equipment
Industry TrucksConstructionFarmMachinery