Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Deere & Company    DE

DEERE & COMPANY

(DE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Deere signals recovery as U.S. farmers to benefit from relief program

share with twitter share with LinkedIn share with facebook
share via e-mail
05/22/2020 | 10:10am EDT
The leaping deer trademark logo is seen on John Deere equipment at a dealership in Taylor, Texas

By Ankit Ajmera

Deere & Co on Friday topped quarterly sales and profit estimates and forecast a smaller-than-expected fall in farm equipment sales for the year, signaling a recovery in demand for its harvesters and tractors.

Shares of the company, which withdrew its outlook in March due to an escalating COVID-19 pandemic, rose as much as 4% in early trading.

Deere's fresh forecast comes more than a month after President Donald Trump announced a $19 billion relief program to help U.S. farmers cope with the impact of the health crisis. The company's sales were likely to benefit from the additional liquidity, analysts have said.

"Deere noted signs of stabilization (in farm equipment sales) despite the week farm sentiment," said Jefferies analyst Stephen Volkmann, adding that fiscal 2020 North American sales outlook of a decline of 10% was "surprisingly benign".

The company said it expects farm and turf equipment sales to fall between 10% and 15% this year. According to Jefferies, the midpoint is better than a 14% drop estimated by analysts.

Deere typically sees a pick-up in sales of farm equipment after January as farmers start planting fields. That likely helped second-quarter demand for farm machinery hold up better than sales of construction equipment.

It forecast 2020 profit in a range of $1.6 billion to $2 billion, down 39% to 51% from a year earlier.

In the quarter ended May 3, farm and turf machinery sales fell 18% to $5.97 billion and construction and forestry equipment sales dropped 25% to $2.26 billion.

Net income fell 41% to $666 million, or $2.11 per share in the quarter, but beat analysts' average estimate of $1.62 per share, according to IBES data from Refinitiv.

Equipment sales declined 20% to $8.22 billion, topping expectation of $7.69 billion. (https://bit.ly/2A3mEn2)

(Reporting by Ankit Ajmera and Shreyasee Raj in Bengaluru; Editing by Arun Koyyur)

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on DEERE & COMPANY
05/29DEERE MPANY : Board elects John Stone as President, Worldwide C&F and Power Syst..
AQ
05/29DEERE & CO : Change in Directors or Principal Officers, Financial Statements and..
AQ
05/29DEERE MPANY : Board elects John Stone as President, Worldwide Construction & For..
PR
05/28DEERE MPANY : John Deere Classic chooses to cancel PGA Tour event
AQ
05/28DEERE MPANY : & CO MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION A..
AQ
05/27DEERE & COMPANY : Announces Quarterly Dividend
PR
05/25NEWS HIGHLIGHTS : Top Company News of the Day
DJ
05/25NEWS HIGHLIGHTS : Top Company News of the Day
DJ
05/25NEWS HIGHLIGHTS : Top Company News of the Day
DJ
05/24NEWS HIGHLIGHTS : Top Company News of the Day
DJ
More news
Financials (USD)
Sales 2020 28 050 M - -
Net income 2020 1 873 M - -
Net Debt 2020 12 963 M - -
P/E ratio 2020 25,2x
Yield 2020 2,09%
Capitalization 46 660 M 46 660 M -
EV / Sales 2019
EV / Sales 2020 2,13x
Nbr of Employees 73 489
Free-Float 58,2%
Chart DEERE & COMPANY
Duration : Period :
Deere & Company Technical Analysis Chart | DE | US2441991054 | MarketScreener
Technical analysis trends DEERE & COMPANY
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 166,60 $
Last Close Price 149,14 $
Spread / Highest target 44,8%
Spread / Average Target 11,7%
Spread / Lowest Target -6,13%
EPS Revisions
Managers
NameTitle
John C. May Chairman, President, CEO & COO
Ryan D. Campbell Chief Financial Officer & Senior Vice President
Rajesh Kalathur Chief Information Officer
Dipak Chand Jain Independent Director
Clayton M. Jones Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
DEERE & COMPANY-13.92%46 660
THE TORO COMPANY-13.62%7 362
ESCORTS LIMITED54.45%1 538
LINDSAY CORPORATION-2.68%1 012
TURK TRAKTOR VE ZIRAAT MAKINELERI AS--.--%496
V.S.T. TILLERS TRACTORS LIMITED-15.82%105